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Updated over 2 years ago on . Most recent reply

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Trying to get a loan before 8 months of 'seasoning'

Posted

Greetings. Does anyone have a lender who will allow me to get a loan on a house I paid cash for. I've invested several thousand fixing it up. Now I'd like to pull cash out and move onto another project. I'm running into 'seasoning' problems. Most lenders are telling me I have to wait 6 months before they'll go off of the improved/new appraisal value. If I try to finance it sooner than that, they will only go off of the original purchase price. Any suggestions?

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Eliott Elias
  • Investor
  • Austin, TX
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Eliott Elias
  • Investor
  • Austin, TX
Replied

If you use a DSCR loan it's possible. My lender did mine in 3 months

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