Tranferring property then refinancing

She would need to wait 6 months to do cash out after you Quit Claim her on the deed.

Yes, once the conveyance of title has occurred she can start the mortgage process. FYI title recordings are taking longer than normal in Michigan due to COVID-19. Varies on by area, some of our clients have had it take as long as 60 days.

In order to do the C/O refi immediately you would need to add her on with a QCD as a co-owner. If you want to remove yourself entirely then she would need to be seasoned on title for 6 months.

Sometimes valuable pieces of the question are omitted. IF she plans to use the funds she is extracting to reimburse you, you could expedite the time line by actually selling it to her with a gift of equity for the down payment that would be required. Work with a Mortgage Broker licensed in your state to help you determine what the best course of action is for what you are trying to accomplish. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we're pending approval in VA. ~ www.ApplyYes.com 480-889-9000.