Seasoning

Seasoning is the minimum elapsed time a property has been owned, or a debt has been on record, before it qualifies for refinance treatment. Cash-out refinance seasoning typically runs 90 days to 6 months on title; some programs require 12 months of mortgage history. Without proper seasoning the file gets reclassified — purchase-loan terms instead of refi terms, or LTV based on cost basis rather than current value. Watch for distinct title-seasoning vs debt-seasoning rules across programs.