What Does Seasoning Mean on a Cash-Out Refinance?

So you bought a property, put work into it, and now you want to pull your cash back out. Then the lender asks how long you've owned it.

That's seasoning, which is how long you've held the property before a lender will refinance it. Some lenders want you to have owned it a while before they'll lend on the new appraised value. Before that, some will only lend off what you paid plus what you put into it.

Every lender sets that clock a little differently. So the same property can get a very different cash-out answer from two lenders.

Before you call, have your closing statement and your receipts for the work you've done. That's how a lender sees what you've really got in it.

SixtyFour West places your deal with lenders whose rules it fits.