BRRRR - How long before the Refinance?

[Spencer Coomer]

During the COVID years, I know people were able to refinance rather quickly (3-6 months). How has that changed in 2023 (going into 2024)  considering the higher interest rates and economic inflation from late 2022 through 2023 and stress on banks?

I want to say I read somewhere that lenders want to wait 12-18 months before refinance. I understand this may vary depending on location and the lender.  To investors and lenders out there, what have your experiences been? 

[Robin Simon]

Quote from @Spencer Coomer:

During the COVID years, I know people were able to refinance rather quickly (3-6 months). How has that changed in 2023 (going into 2024)  considering the higher interest rates and economic inflation from late 2022 through 2023 and stress on banks?

I want to say I read somewhere that lenders want to wait 12-18 months before refinance. I understand this may vary depending on location and the lender.  To investors and lenders out there, what have your experiences been? 

 Check out this BP published article on this topic

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Many DSCR Lenders are at the six month market (with some at the 3 month mark with some hurdles like 700 FICO, etc.)

The big change was in April of this year when Fannie Mae (Conventional) changed the seasoning requirement for conventional QM loans to a seasoning minimum of 12 months which made conventional pretty infeasible for BRRRR