Posted on: 28th Jul, 2009 12:30 am
yes, thank you. we need refinancing on an investment property completely renovated with $88,000 worth of improvements. we paid $32,500 on feb.27, 2009. we curently have a mortgage balance of $24,300. we need a 'no seasoning' loan to payoff the renovations (debit). the property is presently being leased ($1000 per month, 12 months notarized lease agreement). question? help? do you have a lender who will refinance this property without the no seasoning requirements?
Hi edconsul,
It will be difficult for you to find a lender with no seasoning requirement. Lenders require a seasoning of 6 months before they could accept your offer for a refinance. In my opinion, you should wait for 6 months and then apply for a refinance.
Take care.
It will be difficult for you to find a lender with no seasoning requirement. Lenders require a seasoning of 6 months before they could accept your offer for a refinance. In my opinion, you should wait for 6 months and then apply for a refinance.
Take care.