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Updated 9 months ago on . Most recent reply
Cash out refi seasoning question
I have a property that I have bought and renovated 5 months ago. The lender that I'm choosing to cash out with requires a 6-month seasoning period. I know loans can take 30 or more days to close. Can I apply now and move the refi towards closing or, do I need to wait for the 6 months to pass to apply for the refi?
Thanks,
Jason Keating
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#1 Real Estate Success Stories Contributor
- Rental Property Investor
- Perry Hall, MD
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#1 Real Estate Success Stories Contributor
- Rental Property Investor
- Perry Hall, MD
Short answer: Yes. This will depend on the lender but plenty will allow you to start ahead of time. A lender I'm currently working with said their underwriting process is taking 60+ days right now and he started me almost 3 months out. I have worked with lenders in the past that refused to start ahead of time... I don't work with them any more.