How can I pull the ARV equity out of a rental property without seasoning?
Aug 11, 2009
in
Commercial Property Loans
A mortgage would be fine. I have good credit and a rental property (single family home) that I have renovated. I have had the property for 2 months so it is not seasoned yet. There is about k in equity now. I want to keep the property. How can I pull it out now without waiting? I would like to buy another house and need the cash for repairs. Then I will be in the same situation of pulling the equity from the next place. My mortgage broker says that I need 6 months seasoning. I will be getting a couple commercial loans but not for a few more months. Ideas?
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One comment
Andrew O on August 11, 2009 at 2:12 am
Get a HELOC on the house. Higher interest but you could get it now. Then refi once you are seasoned.