Fannie Delayed Financing Option: I have a person who paid cash for a property and now wants to do a cash-out refinance. Will Fannie’s Delayed Financing Rule apply in this case?

Answer: Delayed Financing Exception Borrowers who purchased the subject property within the past six months (measured from the date on which the property was purchased to the disbursement date of the new mortgage loan) are eligible for a cash-out refinance if all of the following requirements are met. Copyright – 2017 – MortgageCurrentcy.com

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