@David Bull
"seasoning" of the loan/property is a two part restriction. First, Fannie guidelines / requirements don't allow action on a Title within 6 months. Second, the financing market needs/wants you to keep the loan for 6 payments. If you extinguish the loan within 6months, the lending and the loan officer lose the money they made on the deal and even have to pay penalties. So, for a conforming loan you really need to keep it for 6 payments. Also, since the Title needs to "stay settled" for lack of better term for 6 months, even if you purchased the property with cash you aren't supposed to be able to get a loan on it.
Non-conforming loans such as HML don't need to follow the Fannie guidelines. Its a cost/benefit issue. If you want the "cheapest" money, you go with a conforming loan and live with their restrictions. If you pay the higher rates and additional points for non-conforming loans, you don't necessarily have those restrictions...
Since you purchased with cash, you can do delayed financing, still a conforming loan, and within 6 months close on a loan with the LTV based on the purchase price. Remember, the market value of the property is automatically set by the purchase price. That data point is good for 6 months...
These are all things you need to look into before jumping in. Or, I guess you are learning on the fly. Again, this is regarding conforming loans.... Good luck.
