Hard money to conventional

[Encarnacion Gutierrez]

I have a killer deal I was going to wholesale but I decided to keep keep because of the discount. I need to close fast with hard money, but I want to convert the hard money loan to a convention loan ASAP. How can I do this in escrow? Will a delayed double escrow work here?

How can I avoid the 6 mo seasoning period?

[Greg Dickerson]

@Encarnacion Gutierrez you have a couple of options. Ask the seller if you can extend closing to purchase with a conventional loan, use the hard money or private money to purchase and refi after as you mentioned but you will have to close first. There is no seasoning requirement on a refi from a bridge loan and not every lender has a seasoning requirement.

Best bet is to talk to some local banks and mortgage broker for permanent financing options.