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Can I refinance my home if it is financed by the owner?

by leokappy33 from Winston, Mississippi. May 31st 2018 Reply

Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,703 contributions

Yes, getting a standard loan when your current loan is a contract for deed in and of itself is not an issue. Above and beyond all standard underwriting guidelines, there are only three additional rules for this situation. 1) The contract must be recorded at the county, and be at least 12 months old. 2) You must be able to third part document you've made the last 12 payments. Things like cancelled checks work great. 3) No cash out is allowed. For contract-for-deed refinances in MN, WI, or SD, visit me at or call (651) 552-3681.

May 31st 2018
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

More info needed, but the short answer is yes.. If you are looking to do a rate and term refinance, then you must have been on title for at least 12 months unless you inherited the home or are having to refinance because of a divorce.. Cash out refinance transactions are not allowed.. so if that's the goal, you will have to rate and term refinance first, then after 6 months, you can do a cash out refinance. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Jun 1st 2018
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