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Updated about 6 years ago on . Most recent reply

Jason Mayers's profile image
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Jason Mayers
  • Rental Property Investor
  • from Phila, PA
  • Member since Nov 19, 2018
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Jason Mayers's profile image
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Jason Mayers
  • Rental Property Investor
  • from Phila, PA
  • Member since Nov 19, 2018
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Jason Mayers
  • Rental Property Investor
  • Phila, PA
3
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23
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Creative Real Estate Financing

Refinance cash out

Jason Mayers
  • Rental Property Investor
  • Phila, PA
Posted

I’m using the brrrr strategy do I need 6 months in reserves to refinance I used hard money to purchase & rehab

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Kevin Romines's profile image
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Kevin Romines
  • Lender
  • from Winlock, WA
  • Member since Mar 5, 2013
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Kevin Romines's profile image
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Kevin Romines
  • Lender
  • from Winlock, WA
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Kevin Romines
  • Lender
  • Winlock, WA
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Kevin Romines
  • Lender
  • Winlock, WA
Replied

It all depends on the type of loan that your using to refinance. If its a Fannie Mae loan (my suggested loan) then the amount of reserves is directly related to how many rentals you have financed?

Here are the actual guidelines:

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