Fannie Mae offers investors new financing option
CNBC
Last
month, Fannie Mae made a change to its rules for all-cash buyers to
apply for mortgages. Currently, Fannie Mae requires a minimum of six
months to elapse between the time a borrower purchases a home and
subsequently applies for a cash-out refinance. Fannie Mae’s “Selling
Guide Update” now allows a cash-out refinance within six months of a
purchase transaction when no financing was obtained for the purchase
transaction.
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