All Forum Posts by: Alison Felton

Hi Alison, but you are being told it's rules of governmental loans. They require 12 mo seasoning as of earlier 2023. The loan you are looking for to get cash out from is called a DSCR loan. There are no tax returns, the beaches, personal income, or DTI! This product is an investors best friend. Happy to connect and talk more!

@Alison Felton

welcome.  Yeah, podcasts and the like never quite to covering everything, especially since they are trying to sell you something.

It used to be more like 6months where the sale price set the market value.  I did hear something about it going to 12 months.  There are various "seasoning periods" depending on which aspects you need to or want to consider.

You can try for alternative financing such as as hloc or portfolio loans (where the lender doesn't resell the Note), but your conforming residential loan is pretty always considered to have the best terms.  So, as always its a trade off.

Happy to chat.  Congrats on your purchase, and good luck.

Some lenders require a "seasoning" period.  Did you merely purchase the home well or did you undertake improvements that led to the $200,000 of equity?  Lenders will generally be more responsive to cash out refinances when you can demonstrate your actions were instrumental in the increased property value. Particularly, when the cash out refinance request comes after a short period of ownership.