That should not be a problem so long as you qualify for the new loan. I'd be happy to discuss this with you if you would like to give me a call. Travis Torcoletti (803) 381-5149 IKON Financial Group.
This is referred to as Delayed financing, or deferred financing. Most traditional lenders (big banks) don't do these, but instead make you wait 90-180 days first. Work with a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, including ones that allow for deferred fiancing, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950
Good morning, Singhu,I'd be delighted to help you with this venture. Please tell me what you will be paying for the property, You said you want cash-out right away: how soon do you mean? And will you have done anything to the property in the interim? My number is 267-223-LOAN (5626), or you may email me at diann@usloans.com.Looking forward to hearing the details.
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