580,000 VALUE
75%-80% LTV
674 CREDIT
REFI C/O
Just closed on property 3 weeks ago, looking for no seasoning.

Good luck! Most lenders wants to see a minimum of 6 months.

What is the situation? Did your client pay 580K for the prop 3 weeks ago and now wants to refi to get some of his down payment back or (this is the more likely scenario) he bought it way under market, can get it appraised at a way higher price and wants to pull cash out 3 weeks later.

If it is the latter then as mentioned you will have to find a lender with no seasoning requirements for a new appraised value and that will be difficult. Even if you do, rest assured there will be lots of 'splainan to do.

If you want my opinion I really don't see this going anywhere.

Are you looking to use new appraised value or the original purchase price? As SD stated above, either way it will be difficult, but in this market the chances of a lender doing a cash out refinance on a purchase that is 3 weeks old on a new appraised value is so slim, it's microscopic! However, an equity line would probably be a better opportunity. I'm no equity line expert, but if you can walk in to any bank and 15 minutes later walk out with one they can't be too strict. Good luck.

its the later, they bought it way under market value and they are trying to get the cashout. well thanks for the help its more of a "C" file anyway because of the seasoning issue. Going to keep my ears to the streets anyway. thanks for the assistance.