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Question
Joe, Can we do cash out refi on a property that was purchased in cash 6 weeks ago? also can we use a non occupant co borrower to qualify? this is for super conforming loan. Thank you
It depends on the circumstances of your situation. You must qualify based on 2 years of job history, 4 years of credit history (2 years FHA), and strong rental history. The non-occupant co-borrower can be used on FHA, but that person must also qualify based on the previous criteria, in addition to the added financial burden of your property plus their own debts. Good Luck!
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About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here
Real Estate Home Mortgages
Answers by Expert:
Joe Almirantearena
Expertise
I can provide all the mortgage information you need to make an informed decision about obtaining a mortgage in California.
Experience
I've been working in the Mortgage industry for ten years, helping people throughout California, with all types of credit, employment, and rental histories, secure home financing for purchase and refinance. I have dedicated my website to provide FREE mortgage and real estate information to California residents. Visit http://www.findmyloanonline.com
Publications
Fresno Famous
Education/Credentials
California Department of Real Estate
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