Conventional refinance on the new ARV until after 12 months ?

[Chris Lord]

Need new Lender recommendations and or advice. My current Lender says per Fannie/Freddie guidelines If I do a cash out refinance before 12 months they can only base it off the initial purchase price and not the new ARV. They will do the cash out refi after 6 months however It is still based on the original purchase price. This will not work for my current BRRRR strategy. I do not want to wait 12 months for each property to be able to get the 70% new ARV that I am after. Hope this makes sense. Please reply or message me if your a lender who can help with this. The property in question is in Jacksonville Florida.

[Jerry Padilla]

@Chris Lord

This is a lender overlay, Fannie Mae only requires 6 months seasoning, and the process can be started prior to the 6 month period. You can cash out at this 6 month time on appraised value.