02/04/2023
โผ๏ธ ๐๐ฒ๐ฎ๐ฑ๐ ๐๐ฝ NOO ๐ถ๐ป๐๐ฒ๐๐๐ผ๐ฟ๐โผ๏ธ
The timeline to do Cash-Out Refinance after purchase just ๐๐ข๐จ๐๐๐๐!
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With Fannie Maeโs announcement today, if you purchase a property for a ๐ฝ๐๐๐๐, you will need to ๐๐ฎ๐ถ๐ ๐ญ๐ฎ ๐บ๐ผ๐ป๐๐ต๐ ๐๐ผ ๐ฑ๐ผ ๐ฎ ๐๐ฎ๐๐ต-๐ข๐๐ ๐ฅ๐ฒ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ instead of 6 months.
โ
Exceptions
๐บif the first lien is a HELOC (rare, but possible)
๐บDelayed Financing (you used your own funds to purchase the property and youโre now paying yourself back)