What is the seasoning requirement for securing a first mortgage on a California property that was gift quitclaimed to me.?

Asked by Fmocid, Caballo, NM Sat Feb 26, 2011

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Paula Bean, , Orlando, FL
Sun Feb 27, 2011
Hi fmocid,
I don't think there is a seasoning requirement. Seasoning is a term that usually refers to an investor who buys a property and wants to flip it. If there is no mortgage or any junior liens, and you are on title, you should be able to get a mortgage on it. You should check with a real estate attorney or loan officer to be sure. Bear in mind that all mortgage companies are not created equal, because one says no, doesn't mean the other 10 won't say yes.
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