Mortgage Blog

Once a cash-out, always a cash-out?
February 16th, 2011 10:55 AM

Fannie Mae has a requirement for cash-our refi.
1)Everyone knows that if you use cash to acquire
a property, then it's better to wait for 6 months
to do a cash-out refi.

2)But if you did a cash-out refi, then if you
want to do a non cash-out refi again, you will
have to wait 6 months(some lenders required 6
payments); or you will have to do another
cash-out refinance.

So sometimes when my clients did a cash-out 
for a few thousand dollars, then  they will have to 
wait 2 extra months to do another refi for
non cash-out.

Posted in:General
Posted by Eric Fang on February 16th, 2011 10:55 AMPost a Comment

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