And they are likely to go through it with a fine-tooth comb at the moment, as lenders have been tightening their belts in light of the looming possible economic downturn. 

This is already being reflected in tightening underwriting guidelines for financing. 

3) I heard that lenders are tightening the lending requirements due to covid-19.

Many banks have begun to tighten up especially with first time buyers.

Their 6mo seasoning period was extended to 12 months with lenders tightening up. 

We called 3 people that came to check on the situation & found that the shower piping inside the wall was not tightened enough so the shower water was pooling up inside the wall.

Many lenders are tightening up their requirements due to times of uncertainty in the market.

I understand I could cash out refi but with time lines extended, banks tightening standards on cash out, and our need for a faster solution I’d rather put the property, which has significant equity, down as the leverage for a new loan for purchasing a new property.We have a rent roll option with 25% down at 7% interestHard money at 8% but only for 6 month time frame.We’d like a more competitive option that uses existing assets rather than typical credit standards.

Lenders are tightening their belts right now, and many are taking 30-60 days in underwriting because 1) Cash out refis are viewed as more risky than purchase loans, and 2) Lenders are overwhelmed with refinances because of the low interest rate environment. 

Jason Strain!