Does a lender exist for this type of d s c r loan?

[Sheila Siegel]

I have a buyer undercontract on a property in Ohio right now. When she is purchasing a duplex for 61k but the value is k. she would like to close and immediately do a cash out briefing based on the actual current value. I know of lenders who can do this but it needs to be a 3 month seasoning  She would ideally like to do a blanket loan which will include not only the property that she's purchasing but a house she owns outright. 

[AJ Exner]

I know of 1 lender doing a 'no seasoning' cash out like what you are saying, but without rehab being done I don't know of anyone doing it within 3 months seasoning. Plus, at that amount, its going to be tough to find a lender (assuming the 'as is' isn't too much more). 

It sounds like she should do a refinance/rehab bridge loan with a very light rehab to get a small escrow and then do the blanket refi on the back end. 

Would there be any interest on the buyers part to do something like that?