It depends on the type of loan you apply for when doing the cash out. A conventional loan in my shop would require at least 12 monthly of payments being made which would translate to at least 13 months of ownership. But donâ€™t narrow it down to something as constricted as a timeline, that isnâ€™t the only requirement. Do you still live in the house? Why is there enough equity that soon to qualify for a cash out? Whatâ€™s your blood type, just kidding on that one. But a cash out refi has a higher risk level therefore will warrant a very stringent review, not implying others donâ€™t, just pointing out it is more complicated than continuity of ownership. Good luck,
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Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.