- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Replies (2)
No seasoning is required if you paid all cash and can meet the delayed financing exception.
Per Fannie Mae:
Per Fannie Mae:
Delayed Financing Exception
"Borrowers who purchased the subject property within the past six months are eligible for a cashout refinance if all of the following requirements are met:
• The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV/CLTV/HCLTV ratios for the transaction).
• The purchase transaction was an arms-length transaction.
• The transaction is documented by the HUD-1, which confirms that no mortgage financing was used to obtain the subject property.
• The sources of funds for the purchase transaction are documented (such as, bank statements, personal loan documents, HELOC on another property).
• All other cash-out refinance eligibility requirements are met and cash-out pricing is applied.
Note: The preliminary title search or report must not reflect any existing liens on the subject property. If the source of funds to acquire the property was an unsecured loan or HELOC (secured by another property), the new HUD-1 must reflect that source being paid off with the proceeds of the new refinance transaction."
Search the Zillow mortgage directory for Kelley Lacey; she will be able to assist you in MI.
Note: The preliminary title search or report must not reflect any existing liens on the subject property. If the source of funds to acquire the property was an unsecured loan or HELOC (secured by another property), the new HUD-1 must reflect that source being paid off with the proceeds of the new refinance transaction."
Search the Zillow mortgage directory for Kelley Lacey; she will be able to assist you in MI.
- Dan Marriggi, "Dan Marriggi"
- Contributions:20
You can bring in a partner and have the partner front you the money.
Is there anyway to get cash out before seasoned?
I am purchasing a home for 150K cash and need to get 100k in cash out immediately, does anyone know how I can achieve this without the mortgage seasoning applying? THe home appraised for 239,000. Please help.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.