Hi Crack'd,I can't find guidelines that prevent this loan, but I seem to remember there is a seasoning requirement on ownership prior to allowing a cash out transaction. Loan receives an Accept from Fannie decision engine, but I'm not so sure. Loan would have to follow Fannie guidelines. 'Accept' is a Freddie determination.... 'Approve' is Fannie.Either way, if they say they'll buy the loan as you've entered it, do the deal!There is no seasoning requirement on cashout after a purchase... but there may be cashout LTV restrictions (which <60LTV is below, in any & all cases,) and there are certainly seasoning restrictions for the purposes of using a higher appraised market value over the executed contract purchase price... FYI, at least one portfolio bank rep I just asked told me they'll allow "same as purchase" refi terms (in other words, 95% cashout) up to 6 months after cash purchase.Luck!Dave DonhoffLeverage Planner
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