Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

21
Posts
19
Votes
Chris Parker
  • Sunnyvale, CA
19
Votes |
21
Posts

No seasoning cash-out refi for low-value BRRRR in MO

Chris Parker
  • Sunnyvale, CA
Posted

I bought a single family house in Missouri for $30k cash. A month and $10k later it is worth ~$85k and rented out for $800/mo. I would like to tap that equity ASAP, then refinance into 30 year conventional after the 6 month seasoning period. 

Fannie rules for the delayed financing exception limit me to the initial $30k out during the initial 6 months. This is a small enough loan that I doubt I can find conventional financing, even though it'd be <50% LTV and cashflowing.

I have several deals on my plate with similar numbers, and expect to find myself in a similar situation repeatedly. What sort of product / lender should I look for here? 

(My credit is 760. I have a low DTI and high AGI.)

Loading replies...