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Delayed Financing Options

Why Delayed Financing May Be For You

Home buyers in some markets are looking to purchase now and finance later


Low inventories have led to very competitive home purchase markets in many parts of the country. To get their offers noticed, many buyers are paying cash, even when they would rather acquire mortgage financing to pay for their homes. Delayed financing allows cash out refinances for these cash buyers.

If you paid cash for your home, delayed financing could enable you to:

  • Reclaim your cash for investing in assets offering higher returns
  • Use your cash to purchase investment properties
  • Reestablish your reserve assets

Some guidelines to consider:

  • The original purchase transaction must have been arm’s length (no relationship between you and the seller), and the refinance must occur within 6 months of purchase
  • You must meet Fannie Mae’s general borrower eligibility requirements
  • The new loan can’t exceed your initial investment in the property (plus closing costs, prepaids, and points) and must conform to program requirements
  • The transaction must meet all underwriting and program guidelines