Get Your Money Back Fast with Delayed Financing

Hello! I’m Kelley Ross with Ross Mortgage Corporation. Have you recently bought a home with cash to make sure your offer was accepted? Maybe your family helped you with the money, and now they need to be paid back. Don’t worry! You don’t have to wait to refinance your home. With FNMA's delayed financing, you can get your money back quickly.

What is Delayed Financing?

Delayed financing is a special rule from Fannie Mae (FNMA). It lets you take out a loan on a home you bought with cash right after buying it. This means you don’t have to wait months to refinance.

Exterior of large home with faux stone siding

Why Use Delayed Financing?

  1. Get Your Money Back Fast: If you paid cash for your home, you can get your money back quickly. This is especially helpful if family loaned you the money.
  2. Better Deals: Paying cash often helps you get a better deal on the house because sellers like cash offers. With delayed financing, you can still get a loan afterward.
  3. Keep Your Savings: Instead of having all your money tied up in the house, you can use delayed financing to free up your cash for other needs.

How Does It Work?

  1. Buy the Home with Cash: First, you buy the house with cash. This can come from your savings or a documented loan from family (such as a promissory note).
  2. Apply for Delayed Financing: Right after buying the house, you can apply for a mortgage to get your money back.
  3. Get Your Cash Back: Once approved, you’ll get a loan for the house, and the money goes back to you or your family.

Requirements for Delayed Financing

To qualify for delayed financing, you must meet these basic requirements:

  • The home was bought within the last six months.
  • You can provide proof of where the cash came from (like a bank statement or a promissory note from family).
  • The property is not an investment property (it's your primary residence or second home).

Why Choose Kelley Ross and Ross Mortgage Corporation?

As a trusted mortgage professional, I am here to help you understand and use delayed financing to your advantage. At Ross Mortgage Corporation, we work hard to ensure our clients make the best decisions for their financial future. We will guide you through every step of the process, making it as easy as possible.

If you’ve paid cash for your home and need to get your money back quickly, contact me, Kelley Ross, at Ross Mortgage Corporation. Let’s work together to make sure your financial needs are met without delay.

 

Contact Kelley Ross - Ross Mortgage Corporation to assess whether a Delayed Financing Loan is the right fit for your financial situation.