Has anybody heard of any new seasoning requirements for conventional loans? I was all set up with my mortgage broker who was going to be able to get me into conventional loans right after I purchase with cash. She just found out now there’s a 6 month seasoning on cash purchases. She was going to investigate it further to see if it’s a Fannie mae requirement or what. She suggested I try portfolio loans (credit unions) to see if I can re-fi with them.
I close tomorrow on my first property I bought at auction with my HELOC. Anybody have any suggestions?
Owen Properties, LLC