Waiting 12 months to pull back funds 😭

New seasoning requirements for cash out refinances! If you are planning to pull equity out of your deal you’ll need to make sure you’ve paid on your current mortgage for at least 12 months before you can execute on a cash out refinance 😩👎🏽

HOWEVER this is ONLY for recorded first position mortgages. Meaning if you bought with cash you CAN still execute a cash out refinance once you’ve owned the property for 6 months 👍🏽💰

Plan accordingly!

Call/text me for any questions on your next purchase (808)721-1071 or apply at www.rate.com/mikearrieta