I need to refi, 80% cash out with no seasoning requirements, any sugestions?

Great Question: As long as your income can support all four mortgages then you should have no problem cashing out of the home after being in the home for 3-6 months depending upon when you get an occupancy permit. My suggestion would be to get a construction loan from a local community bank in south carolina to finance the build that way you do not have to use your cash. Then once the construction is built you can convert it right over to a traditional loan.Just an Idea as cash is king and you never want to use it if you do not have to! Use other peoples money especially when investing!

hi there: Fannie and Freddie Guidelines require 6 mths seasoning for any cash out from day you take title to property initially. Lenders usually follow this rule unless they have their own guideline and might hold your loan for several mths until they sell the loan to Fannie/Freddie should they do. Also if you plan to refinance this new subject property as an investment and you have 4 other financed properties currently including your primary residence, Fannie/Freddie will not financed your 5th new subject property. Four is the max if subject property is a 2nd or investment property. Lenders might have an overlay on this but every lender is different...My bank offers up to 10 financed properties permitted..we don't have 4 max financed restriction. Give me a call to discuss this b/c we might be able to make an exception on your file based on your property, & entire file..(income, assets etc).. We do make exceptions with our lending guidelines. Mike 703 505 5300