Seasoning And Sub-tos
I have looked thru this section of the forum and haven't found this, although I'm sure it must be here somewhere.
When taking a house sub-2, are there any seasoning issues when refinancing it? i.e. if I were to refinance in a few months, would it be based on a current appraisal? Or the "payoff" amount at time of me taking it sub-2 which would be equivalent to the selling price?
The current appraisal.
If you are doing a cash out refi, the lender is going to be concerned with the current market value. If you just wanted to lower the interest rate, then they would be concerned with the payoff.