Refi ?

Will I have a problem with any lenders who will refi my house while it is listed on the MLS?? I spoke to one lender and he says there is a 6 month wait period, is this true??

Comments(8)

  • stangboy04137611th June, 2006

    So you are saying that theres a chance I can find a lender who will refi right away even though my property is vacant and listed on MLS??? My credit is excellent.

  • ypochris11th June, 2006

    Actually they do like to see leases, at least for commercial/multi family property. They want to know that it really is rented if they are including it in your income for your DTI , and it is reasonable to expect that leases will generally be honored.

    Chris

  • tess4th May, 2006

    I have three investment SFR on a HELOC. National City and Chase both will do them without any seasoning. (at least they did over the past year). It is a full doc. program. They had both HELOC and a fixed home Eq. Hope this helps.

  • povrtsux4th May, 2006

    Hi tess
    Were you able to get more than 75% on the HEL on an investemnt property?
    Do you know of anybody that goes up to 90% with no Doc?
    I posted this question on this site but for some reason it was not shown. I wonder why.
    Thanks,

  • tess4th May, 2006

    National City will do a 90% HELOC. All depends on credit. They are quick. I have had them done in less than two weeks, money in hand. Hope this helps!

  • povrtsux4th May, 2006

    Most will go up tp 75%. I wonder if anybody goes up to 90% and NO Doc.

  • jchheng14th June, 2006

    now is this heloc based on the purchase price or the appraisal value? I know a lot of lenders will be ok doing it based on purchase price but not on appraisal value.

  • ssteach16th June, 2006

    would the property need to be seasoned to get a heloc on non primary residence? teach

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