Delayed Financing to include renovation cost without seasoning

[Steve Wang]

I'm about to make an offer on a house with cash and I hope to refi the cash out immediately after renovation. 

I learned that you can get a conventional loan called "Delayed Financing" loan.  However, this loan can only refi out the home purchase price without seasoning.  If i want to refi out the renovation costs too, i'd have to season it for 6 months. 

However, i heard on a podcast that if you include the reno cost on the Closing Disclosure of the purchase, then you're able to use Delayed Financing and pull out both purchase and reno cost without seasoning.  is this true?  if so, how do i get the reno cost on the Closing Disclosure since there doesn't appear to be a space for reno cost?

How do i find a lender who can help with this?

Thank you in advance!!!!

[Alexander Felice]

was it episode #301? 

first, yes you need a lender who can do this, and they are sorta rare. 

also know that Delayed Finance can only be used with YOUR funds, you can't use outside loans to do it 

the rule is 75% LTV or 100% HUD-1 whichever is LOWER. so your ARV on the project really matters if you want to get out your entire investment. Basically you need to create 25% equity or greater for this to work

you have to pay for both the rehab and the purchase at the time of closing. Once you close, HUD-1 is set and won't be changed.

You get the reno costs on the HUD-1 by giving your closing attorney (or title) an invoice from the contractor who is going to do the rehab, then they will add it to escrow disbursements.

hope this helps ;)