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Updated over 5 years ago,

User Stats

11
Posts
2
Votes
Antonio H.
  • Rental Property Investor
  • Tulsa, OK
2
Votes |
11
Posts

Who will fund Cash-out Refinance? See details

Antonio H.
  • Rental Property Investor
  • Tulsa, OK
Posted

Are there any additional options on lenders that will approve and qualify a refinance on a property I just acquired less than 180 days ago(two weeks ago to be exact)? I just acquired a property w/no mortgage, & was pre-approved for the Loan. Then the loan officer says “((According to the guidelines, it appears you are not eligible to do a cash out refinance for 180 days. I looked at doing a renovation loan for you to do the updates to the house you would like to do, but you would not be able to take cash out at closing to pay for taxes that are in the arrears or the landscape/mowing lien on the property. You would need to be able to bring that to closing to close on the loan.))”

So my question is, are there any lenders that may look at the deal and approve a loan based upon the deal. The tax sale date is less than 40 days away. What are my options? If you understand and agree with the lender please explain why. I am always willing to learn.

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