How to bypass the 6 months wait to refinance

[Moshe Cohen]

Hi everyone!

I have an option to buy a house for 290k with an ARV of 350-360.

I have the funds in cash but was told I need to wait 6 months before I can refinance for the ARV and not for the purchase price I paid for it.

Any suggestions on how to buy it with the option to refinace it right after??

Thanks in advance...

[Nick Belsky]

@Moshe Cohen

Simply find a different lender. Many DSCR lenders will base the new loan from the ARV after zero or 3 months. It's not super common, but not too hard to find either. More lending options will definitely open at 6 months, but there are plenty at 3 months and a handfull that have no seasoning at all for cash outs, so long you can prove rehab was completed.

Cheers!