Cash out refi seasoning question

[Jason Keating]

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

[Jon K.]

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.