No Seasoning Cash Out Refinance in Georgia

What is No Seasoning Cash Out?

Traditionally, lenders require a “seasoning” period before you can refinance your home and take cash out. This period can often be six months or longer. However, with our No Seasoning Cash Out program, you can qualify for a cash-out refinance in less than six months. This means you can quickly leverage your property’s value for other financial needs, whether it’s home improvements, debt consolidation, or other investments.

Key Features of Our No Seasoning Cash Out Program

Our No Seasoning Cash Out program is designed to be flexible and accommodating, offering a range of features to suit different financial situations.

– Loan Amounts: Borrow from $125,000 up to $3.0 million.

– Interest-Only Options: Available for loans up to $2.5 million.

– Debt-to-Income Ratio: Up to 50% DTI allowed.

– Credit Scores: FICO scores starting from 660.

– Loan-to-Value Ratio: Up to 80% LTV.

– Seasoning Requirements: Less than 6 months seasoning from purchase to cash-out based on the lesser of the original purchase price plus any improvements or the current value. If seasoned for 6 months, the current value can be used.

– Unlimited Cash-Out: Up to 65% LTV.

– Reserve Requirements: Cash-out can be used to meet reserve requirements.

– Qualification Options:

– 1 or 2 years of W2 or Tax Returns

– 12 or 24 months of Bank Statements

– 12 or 24 months of P&L with no additional assets

– Credit History: 36 months seasoning for major derogatory credit.

– Minimal Tradeline Requirements: Making it easier to qualify.

– Property Types: Primary residences, second homes, and investment properties including SFR, PUD, Condo, Non-Warrantable Condo, and 2-4 unit properties.

Contact us to speak with one of our mortgage experts.