Refinance options?
I bought a home that I used to rent for P80k in cash. I’ve done a lot of work in it and had it appraised at $180k. I plan to do a cash out refinance but lenders require that you own the house for 6 months. I’ve owned the rental home for 2 months already and I want to explore other options. TIA for your suggestions. by mbrown748 from Garden City, Minnesota. Jan 10th 2022
Tim Swierczek (TimSwierczek)
#23 ranked lender in Minnesota - 25 contributions
If you plan to rent it you can reach out to Lilly Luna at Creative Lending. She specializes in investment properties in Minnesota. I refer her to a lot of my clients and I know she has one lender who will do a cash-out refi with less than 6 months of seasoning. They require it is rented and cash flows at a 1.3 DSCR.
Joe Becker (JoeBecker)
#57 ranked lender in Minnesota - 64 contributions
Connect with Progressive Lending - Local Home Financing for more information as to whether a refinance is right for you. Lots of options to look through. https://www.progressivels.com/
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