Buy with Credit Cards, Re-Finance Later?? - Posted by daveh

Posted by Ed Garcia on March 27, 2001 at 13:07:13:

Deveh,

That depends on what you want to spend. There different lenders who have different underwriting criteria. The vast majority of your lenders will require 1 years worth of seasoning before they’ll acknowledge your new equity.

There are other lenders who will consider them on a case-by-case basis. It also depends on the borrower, LTV of the deal, location etc.

The more lenient a lender is on there underwriting criteria, the more it’s going to cost you. We call this risk/ reward.

Ed Garcia

Buy with Credit Cards, Re-Finance Later?? - Posted by daveh

Posted by daveh on March 27, 2001 at 10:38:55:

If I buy a cheap single family house and rehab it using only my credit card cash line, how soon thereafter can I refinance it with a conventional mortgage to pay off the credit card plus some cash back?