Delay Refi Cash Out on propery purchased with cash

Delay Refi Cash Out on propery purchased with cash

Member since 2019 · 17 posts · 2 votes

Biggerpockets family. I just closed on a sfh two days ago. I purchased the property with cash, no loans from any lenders. I wanted to cash out efi (delay refi). I know that I can cash out refi right away (since it was a cash purchase) and cash out on one of the two: the purchase price and closing cost OR 75% of arv, whichever is lower. My question is can I use any bank to apply for a delay cash refi on my recent purchase or is there only specific banks that do this kind of refi?

Thanks!

0Reply
17 views

1 Reply

Jump to latestLatest
  • Harjeet BhattiPro Member
    Lender · Glenview IL- CDLP NMLS#230554 · Member since 2015 · 2k+ posts · 747 votes
    6y

    @Keith Jefferson You can cash out any time under delayed financing exception. Most of the bank will be able to help you out. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.