Refinance properties after transferring deed
Refinance properties after transferring deed
I am in the process of transferring my father's properties into my name after his death. Everything is in order, however a banker just told me I had to wait 6 months to refinance once the dees are placed in my name. The properties are in Arizona and I live in Marland. Is that accurate information?
3 Answers
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Yes, its a norm followed by the lenders in case of new-acquired properties. You've got to wait for an interim period of 6-12 months before qualifying to get your house refinanced. Still, for precise information, you could consult a local mortgage broker.
1
This seems odd to me - I will check with my underwriting department to see what they say
What are some of the specifics - are you looking to get cash or just refi an exsisting loan into your name? What is the status of the properties - ??
Brian Barnes
Nationwide Loan Officer
Brian@AimWithFocus.com