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 Conforming Loan amounts up to $766,550 | FHA Loan Limits are specific to each Florida County
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Delayed Financing Mortgage

Delayed Financing Mortgages

Delayed financing enables individuals who purchased a property with cash to quickly secure a mortgage through a cash-out refinance loan. This approach allows homeowners to access a portion of the funds tied up in their property for a variety of purposes. Essentially, it offers a means to leverage equity from an all-cash sale, freeing up funds for various expenses.

Although a beneficial option for suitable buyers, it’s important to note that delayed financing is not a distinct type of financing. Instead, it serves as an exception to the cash-out refinancing guidelines established by Fannie Mae and Freddie Mac, which typically impose a waiting period of six months for a cash-out refinance. However, in the case of an all-cash purchase, there is no mandatory waiting period before you can refinance your home.

As per Fannie Mae and Freddie Mac requirements, a typical waiting period of six months is mandated after purchasing a home before conducting a cash-out refinance. However, with an upfront cash purchase, there’s no waiting period to initiate the refinancing process.

Florida Delayed Financing Mortgage Requirements:

  • The borrower must own the property
  • A title report must confirm there are no liens on the property
  • The settlement statement must verify that the property was purchased with cash
  • The source of the funds used to purchase the property must be sourced and documented. These documents can include bank statements or documents from a personal loan or home equity loan secured by another property
  • Minimum Credit scores of 660
  • Up to 80% loan to value
  • Income can be documented with pay stubs, W2’s and / or tax returns
  • Income can be documented with 12 or 24 months of bank statements
  • Rental income can be used to qualify
  • Debt Servicing Coverage Ratio [ DSCR ] for investment properties only can be utilized
  • Debt to income ratio less than 50%
  • Property can be used as a primary home, second home or an investment property
  • Property must a single family home, multifamily home up to 8 units, townhouse, warrantable condo, non-warrantable condo, or a condotel
  • Minimum loan amount of $200,000
  • The contract sales price will be used as the property value; an appraisal will be used to confirm the property value.   

Florida Delayed Financing Mortgage Benefits

  • Get cash out immediately after purchasing home in cash – no waiting period. By utilizing all cash for your home purchase, you bypass the standard six-month waiting period typically associated with refinancing to recover your funds.
  • Opting for a cash purchase may enhance your negotiation position and increase the likelihood of your offer being accepted. Sellers often favor cash offers as they eliminate concerns about a borrower securing mortgage approval.
  • Reclaim your funds: Post-purchase financing liberates cash that can be directed towards various expenses, including home improvements or the acquisition of a second property.
  • Warrantable Condo Properties available
  • Non-Warrantable Condo Properties available
  • Condotel Properties available