A straight answer
I bought a house with cash. Can I get a mortgage now?
The direct answer
Yes. Fannie Mae's delayed financing exception lets a buyer who paid cash take a cash-out refinance within six months of the purchase, when its conditions are met, and I offer that loan and put the financing together. I'm Zach von der Linden (NMLS 1652805), a mortgage broker with West Capital Lending, based in San Clemente.
The exception is about documents, not just about having paid cash. I arrange the loan with a lender that makes it, and the lender applies Fannie Mae's conditions to your file: how you paid for the home, what the settlement statement and the title report show, and whether the purchase was at arm's length. Text or call me with the state, your closing date, what you paid and where the money came from. I work with buyers and homeowners in California, Utah, Oregon and Arizona.
Zach von der Linden, mortgage broker and Branch Manager, West Capital Lending · NMLS 1652805
Wholesale pricing · California, Utah, Oregon and Arizona
5.0 across 66 reviews on Experience.com (read on 2026-09-24) · Text reaches Zach directly · Last updated 2026-10-17
Paid cash and want some of it back? Text me the state, your closing date, what you paid and where the money came from.
No credit pull happens from a text or a call. Texts and calls go to Zach's cell.
What happens after you text me?
Texts go straight to my cell, and I answer them myself when I'm free. I'll ask for the few details that actually matter, tell you whether the structure looks worth pursuing, and explain the next step. If I don't think the loan fits, I'll tell you that too.
A text or phone conversation does not pull your credit.
What delayed financing is
A cash-out refinance sold to Fannie Mae normally needs time on title first. The guide says "At least one borrower must have been on title to the subject property for at least six months prior to the disbursement date of the new loan, unless one of the following exceptions apply," and one exception is that "The delayed financing requirements are met" (Fannie Mae Selling Guide B2-1.3-03). Delayed financing is the name for that exception.
The exception reads: "Borrowers who purchased the subject property within the past six months (measured from the date on which the property was purchased to the disbursement date of the new mortgage loan) are eligible for a cash-out refinance if all of the following requirements are met." The clock runs from your purchase date to the day the new loan funds, so the paperwork has to be done inside that window, not just started.
After six months on title, you no longer need the exception: the ordinary cash-out refinance rules apply, including the ownership rule above. Either way the guide adds that "All other cash-out refinance eligibility requirements are met" and that cash-out pricing applies. One of those requirements is that "Properties that were listed for sale must have been taken off the market on or before the disbursement date of the new mortgage loan."
Where the purchase money came from
This is the question that decides most of these files, and "I paid cash" is not an answer to it. The guide requires that "The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property)." I ask for the trail before anything is submitted.
Your own funds. Bank or brokerage statements covering the money that went to escrow, and the wire or cashier's check that delivered it. Large deposits that arrived shortly before closing get their own explanation, the way they do on any file.
Borrowed funds. A personal loan, a loan from a relative with a note, or a HELOC on another property can all have paid for the home, as long as nothing was secured by the home itself. The guide then adds a condition: "If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the settlement statement for the refinance transaction must reflect that all cash-out proceeds be used to pay off or pay down, as applicable, the loan used to purchase the property." Whatever balance remains on that loan, "Any payments on the balance remaining from the original loan must be included in the debt-to-income ratio calculation."
Gifts. The guide is direct: "Funds received as gifts and used to purchase the property may not be reimbursed with proceeds of the new mortgage loan." If a parent gave you part of the purchase price, that part is not cash you can take back out under this exception. A gift and a family loan are documented differently, and which one it was has to match the paperwork from the purchase. A loan secured by the home itself, such as a hard money loan recorded against it, is a different case; refinancing a hard money loan covers it.
The purchase documents
The settlement statement from your purchase. The guide requires that "The original purchase transaction is documented by a settlement statement, which confirms that no mortgage financing was used to obtain the subject property." If none was given to you, "A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted," which covers a home bought at a trustee's sale.
A clean title report. "The preliminary title search or report must confirm that there are no existing liens on the subject property." That means nothing recorded since the purchase either: a line of credit or a contractor's lien recorded after you closed would have to be cleared first.
The purchase contract and the deed, so the lender can see the parties, the price and the date. The six months are measured from that purchase date.
Title: who owns the home now, and what is recorded
If your company bought the home, the refinance closes in your own name. The guide's ownership section says that when the property was owned by an LLC the borrowers majority-own or control, the time it held the property can count toward the ownership requirement, and that "In order to close the refinance transaction, ownership must be transferred out of the LLC and into the name of the individual borrower(s)." Ask about the tax and insurance side of that transfer before anyone records a deed; I am not the right person for that advice, and I will say so.
The new loan is a first mortgage, because there is no mortgage ahead of it. It is not a home equity line. If you would rather leave the home free of a first mortgage and open a line instead, the home equity lines I place require 90 days of ownership after the purchase, and how soon after buying a home can I get a HELOC? walks through that choice.
How much you can borrow back
Under this exception the loan is capped by what you put in, not by what the home is worth today. The guide says "The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan," and the guide makes that subject to the program's maximum loan-to-value ratios for a cash-out transaction, measured on the current appraised value. Both limits apply at once: the documented investment, and the loan-to-value limit on the appraisal.
This site prints no loan-to-value figure; the lender's current matrix sets it, and I read it against your file. If the appraisal comes in below what you paid, the loan-to-value limit is the one that binds. If the home is worth more than you paid, the investment cap still holds under this exception; after six months on title, the ordinary cash-out rules apply instead.
How jumbo differs
Everything above is Fannie Mae's rule for loans it buys, which means loans within the conforming limit for your county. Above that limit the loan is a jumbo, and a jumbo program writes its own rules on how soon after a cash purchase it will refinance, which sources of funds it accepts, how it treats a purchase from a related party, and how much of your investment it will return. Some follow Fannie Mae's pattern and some do not. The jumbo loans hub and just over the conforming limit cover the limit itself.
I offer delayed financing, and whether a particular jumbo program will refinance a recent cash purchase on your file, and on what terms, is that program's rule, confirmed before you count on it. Text me the county and what you paid, and I will tell you which rulebook you are under before we talk about documents.
What to text Zach
- The state and county the home is in, and your closing date.
- What you paid, and where the money came from: your own funds, a loan (secured by what), or a gift.
- Who the seller was, and whether you are related or connected to them.
- Whose name is on title now: yours, a trust, or a company.
- Whether the home is listed for sale, and what you want the money for.
Send the settlement statement and the bank statements through the secure process I give you when we talk, not by ordinary text. A conversation does not pull your credit.
Questions people ask next
How soon after paying cash can I get a mortgage on the house?
Under Fannie Mae's delayed financing exception, a cash-out refinance can fund within six months of the purchase when every condition is met, measured from the purchase date to the day the new loan funds. After six months on title, the ordinary cash-out rules apply. A jumbo program sets its own timing, confirmed before you count on it.
I borrowed the cash from family. Does delayed financing still work?
If it was a loan, document it with the note and the transfer, and the refinance settlement statement must show the cash-out proceeds paying that loan off or down; any payment that remains counts in your debt ratio. If it was a gift, Fannie Mae says gift funds used to buy the home may not be reimbursed with the new loan. Which one it was has to match the paperwork from the purchase.
I used a HELOC on my other house to pay cash. Can the new loan pay it back?
Yes. Fannie Mae names "a HELOC on another property" as a documented source, and the refinance settlement statement must then show the cash-out proceeds paying that line off or down. The line's remaining payment, if any, is counted in your debt ratio.
I bought the house in my LLC. Can I still do this?
It depends on who owns the LLC. The exception allows a purchase by an LLC or partnership the borrowers own entirely, and the time the LLC held the home can count toward the ownership requirement. To close, ownership moves out of the LLC and into your individual name. Ask a tax professional about the transfer first.
Can I take out more than I paid if the home is worth more now?
Not under this exception. The loan is capped at your documented investment plus the financed closing costs, prepaid fees and points, and the program's loan-to-value limit on the current appraisal applies on top of that. After six months on title, the ordinary cash-out rules apply instead.
Would a HELOC be simpler than a cash-out refinance here?
It can be, and it is a different clock. The home equity lines I place require 90 days of ownership after the purchase, and a line leaves the home with no first mortgage. Delayed financing is a first mortgage with Fannie Mae's documentation conditions. I compare both on your actual numbers.
Does delayed financing work on a jumbo loan?
It depends on the jumbo program. Fannie Mae's exception applies to loans within the conforming limit. Above it, the jumbo program's own rules on seasoning, source of funds and the amount it returns apply, and I confirm them with the lender before you count on anything.
What clients say
Zach was so easy to work with. He made a stressful situation into a very positive experience for us and did push us one way or another. He listened to what we hoped we could accomplish and made it happen.
Word for word from Experience.com. Read all reviews.
Sources and checked dates
Sources: Fannie Mae Selling Guide, B2-1.3-03, Cash-Out Refinance Transactions (checked 2026-10-17) · Fannie Mae Selling Guide, B2-1.3-03, Cash-Out Refinance Transactions (12/10/2025) (checked 2026-10-17) · Web Designer brief, October 17, 2026 (growth plan Section 5, approved by Zach) (checked 2026-10-17) · Confirmed by Zach, Sept 2026 (checked 2026-09-28) · Fannie Mae Selling Guide, B3-4.2-02, Depository Accounts (checked 2026-10-16) · Consumer Financial Protection Bureau, Mortgages key terms (checked 2026-10-16).
Show each claim on this page, what it depends on, and the date it was checked (7)
| What we say, and what it depends on | Source | Checked |
|---|---|---|
| Fannie Mae Selling Guide B2-1.3-03, Cash-Out Refinance Transactions (12/10/2025), re-read 2026-10-17: "At least one borrower must have been on title to the subject property for at least six months prior to the disbursement date of the new loan, unless one of the following exceptions apply:" inheritance or a legal award, or "The delayed financing requirements are met." When title was held by an LLC the borrower owns, "the time it was held by the LLC may be counted towards meeting the borrower's six-month ownership requirement." "If an existing first mortgage is being paid off through the transaction, it must be at least 12 months old at the time of refinance, as measured by the note date of the existing loan to the note date of the new loan. This requirement does not apply" "to any existing subordinate liens being paid off through the transaction, or" "when buying out a co-owner pursuant to a legal agreement." Delayed Financing Exception: "Borrowers who purchased the subject property within the past six months (measured from the date on which the property was purchased to the disbursement date of the new mortgage loan) are eligible for a cash-out refinance if all of the following requirements are met." "The original purchase transaction was an arms-length transaction." "The original purchase transaction is documented by a settlement statement, which confirms that no mortgage financing was used to obtain the subject property." "The preliminary title search or report must confirm that there are no existing liens on the subject property." "The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property)." "If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property)," "the settlement statement for the refinance transaction must reflect that all cash-out proceeds be used to pay off or pay down, as applicable, the loan used to purchase the property." "The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value)." "Cash-out pricing is applicable." "Properties that were listed for sale must have been taken off the market on or before the disbursement date of the new mortgage loan." | Fannie Mae Selling Guide, B2-1.3-03, Cash-Out Refinance Transactions | 2026-10-17 |
| Fannie Mae Selling Guide B2-1.3-03, Cash-Out Refinance Transactions (12/10/2025), Delayed Financing Exception, read 2026-10-17: "For this refinance transaction, the borrower(s) must meet Fannie Mae's borrower eligibility requirements as described in B2-2-01." "The borrower(s) may have initially purchased the property as one of the following: a natural person; an eligible inter vivos revocable trust, when the borrower is both the individual establishing the trust and the beneficiary of the trust; an eligible land trust when the borrower is the beneficiary of the land trust; or an LLC or partnership in which the borrower(s) have an individual or joint ownership of 100%." "(A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted for a settlement statement if a settlement statement was not provided to the purchaser at time of sale.)" "Any payments on the balance remaining from the original loan must be included in the debt-to-income ratio calculation for the refinance transaction." "Note: Funds received as gifts and used to purchase the property may not be reimbursed with proceeds of the new mortgage loan." "All other cash-out refinance eligibility requirements are met. Cash-out pricing is applicable." Ownership of the Property: "If the property was owned prior to closing by a limited liability corporation (LLC) that is majority-owned or controlled by the borrower(s), the time it was held by the LLC may be counted towards meeting the borrower's six-month ownership requirement. (In order to close the refinance transaction, ownership must be transferred out of the LLC and into the name of the individual borrower(s)." | Fannie Mae Selling Guide, B2-1.3-03, Cash-Out Refinance Transactions (12/10/2025) | 2026-10-17 |
| Zach offers delayed financing: a cash-out refinance for a buyer who recently paid cash for the home, arranged through West Capital Lending with a lender that makes the loan. He puts the financing together; approval depends on the program's written conditions. | Web Designer brief, October 17, 2026 (growth plan Section 5, approved by Zach) | 2026-10-17 |
| Buyers who paid cash have another option: delayed financing through a regular cash-out refinance. | Confirmed by Zach, Sept 2026 | 2026-09-28 |
| A home equity line requires that the home has been owned for 90 days after the purchase. | Confirmed by Zach, Sept 2026 | 2026-09-28 |
| Fannie Mae Selling Guide B3-4.2-02, Depository Accounts (12/14/2022), under Evaluating Large Deposits: a large deposit is defined as a single deposit above a stated share of the total monthly qualifying income, and "When bank statements (typically covering the most recent two months) are used, the lender must evaluate large deposits." For purchase transactions: "If funds from a large deposit are needed to complete the purchase transaction (that is, are used for the down payment, closing costs, or financial reserves), the lender must document that those funds are from an acceptable source." "Verified funds must be reduced by the amount (or portion) of the undocumented large deposit." For refinance transactions: "Documentation or explanation for large deposits is not required; however, the lender remains responsible for ensuring that any borrowed funds, including any related liability, are considered." "If the source of a large deposit is readily identifiable on the account statement(s), such as a direct deposit from an employer (payroll) ... and the source of the deposit is printed on the statement, the lender does not need to obtain further explanation or documentation." "The lender must investigate any indications of borrowed funds." | Fannie Mae Selling Guide, B3-4.2-02, Depository Accounts | 2026-10-16 |
| The CFPB's mortgage key terms glossary (page last modified December 28, 2022), entry "Mortgage refinance": "Mortgage refinance is when you take out a new loan to pay off and replace your old loan. Common reasons to refinance are to lower the monthly interest rate, lower the mortgage payment, or to borrow additional money. When you refinance, you usually have to pay closing costs and fees. If you refinance and get a lower monthly payment, make sure you understand how much of the reduction is from a lower interest rate and how much is because your loan term is longer." | Consumer Financial Protection Bureau, Mortgages key terms | 2026-10-16 |
Written for and accountable to: Zach von der Linden, Mortgage broker and Branch Manager, West Capital Lending.
Last updated 2026-10-17.
Verify him: NMLS Consumer Access, ID 1652805 · 66 reviews on Experience.com.
Sources for product claims are listed on this page, with the date each was checked.