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Updated about 4 years ago, 10/28/2020
Lenders That Allow Refinancing Under 6 Months
Hi Bigger Pockets Community,
I'm a first time real estate investor looking to go in on my first BRRRR deal within the next few months. I'm starting to reach out to lenders and am having trouble finding one that will let me refinance a loan before 6 months. Is it possible to find a lender that will allow someone to take out a mortgage, renovate the home, then refinance the loan after you finish the renovation under 6 months?
Or is the only way to do a BRRRR by using hard money for the purchase, then getting a loan on the house once it has already been renovated for the new appraisal price?
Any help or suggestions are welcome!