Mortgage Seasoning Period

[Justin Morris]

How long is the seasoning period once you purchase a home in cash before you can refinance? Are there lenders out there that have no seasoning requirements? My wife and I are about to purchase a tax deed home and I’m trying to get my timeline down from purchase to rehab complete.

Additionally how much of the value of the home can be refinanced? I’m looking to pull as much money out as possible.

Thanks

[Chris Mason]

Originally posted by @Justin Morris:

(1) How long is the seasoning period once you purchase a home in cash before you can refinance? (2) Are there lenders out there that have no seasoning requirements? My wife and I are about to purchase a tax deed home and I’m trying to get my timeline down from purchase to rehab complete.

Additionally how much of the value of the home can be refinanced? I’m looking to pull as much money out as possible.

Thanks

 (1) Zero days, zero hours, zero minutes.

(2) Yes, many. You just have to find someone local to you in the mortgage industry that is smarter than average.

Note that my answers were predicated on "cash buyer." If you borrowed $100k from your uncle a week prior, you aren't a cash buyer. You purchased with borrowed money, that would make you a financed buyer.