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“Delayed Financing” Option For Refi After Cash Purchase – 90 Days

One of our buyers is having difficulty getting offers accepted so he decided to offer “all cash” and then finance the property immediately after close via “Delayed Financing.” The Realtor’s questions about this reminded me that I had not blogged about it for some time.

Delayed Financing is a conventional financing provision that allows “all cash” buyers to immediately do a cash out refinance after an “all cash” purchase closes.

There are two caveats: (1) the cash for the all cash purchase must come solely from the borrower’s own funds (no loans); and (2) the Delayed Financing must close within 180 days of close of escrow. Note: Gifts are allowed, but cannot be reimbursed in the cash out process.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646