Posted by Nate on March 21, 2001 at 18:57:06:
Someone posted the other day that Washington Mutual is now lending without any seasoning requirement, up to 75% LTV. Haven’t checked for myself, so I can’t vouch for it, but someone else posted it here.
NT
Refi deal that has hard money/owner financing - Posted by Tiffany (MA)
Posted by Tiffany (MA) on March 21, 2001 at 13:40:33:
About how long do I have to wait, if at all, to refi a deal structured from hard money & a seller second?
For example SFR purchased at 230k, valued at 275k. Hard money for 220k, seller carry back at 10k, 10% interest only balloon in 1 year.
Plan to do a lease option at 2800/mo, option to purchase price @ 285k. Hard money is around 13%, would like to refi to increase cash flow before I get cashed out in a year.
Any seasoning needed?
–Tiff
Re: Refi deal that has hard money/owner financing - Posted by Stacy (AZ)
Posted by Stacy (AZ) on March 21, 2001 at 14:21:59:
It takes 1 year of seasoning before I can get these refinanced. I haven’t looked extensively for a lender who’ll do it without a year’s seasoning, if they exist, but the ones I currently use require it.
Stacy