If you would like to refinance your home, Fannie Mae has no requirement for the time a person is on the title if the refinance is simply to reduce the rate or term. However, if you want to take cash out, then borrowers must be on the title for at least 6 months, unless you qualify for an exception such as inheritance or you were legally awarded the property.
Related Article Title: Fannie Mae’s Top FAQs – NEW MTP™ – What is The Difference Between a Second Home and Investment Property? Written by: Lloyd Rutherford, Staff Writer FAQs published by Fannie Mae are a great way to learn a lot in a quick period of time. Read through this latest FAQ release and pick […]