CashOut Refinance Before Probate in Florida

Can you refinance before probate starts, during probate, or after it closes?

Can a Florida personal representative mortgage estate property?

A personal representative may have authority under a qualifying will to mortgage estate real property without separate court authorization under Florida Statutes § 733.613(2). Have probate counsel confirm whether that authority applies to your property and whether a court order or additional documentation is needed. Protected Florida homestead requires a separate review because it is generally excluded from the assets in the personal representative’s hands under Florida Statutes § 733.608.

Which loan options can work for an inherited Florida property?

• Conventional cash-out refinance. Fannie Mae’s cash-out guidelines waive the usual six-month ownership wait when the lender documents that the borrower acquired the property by inheritance. A separate loan-age rule generally applies to an existing first mortgage being paid off. Ask the lender to check that rule and any applicable exception early.
• Investor cash-out refinance. If you plan to keep the inherited home as a rental, review Florida investor cash-out refinance options. Eligibility depends on the lender, property, occupancy, and title.
• Private financing for eligible investment property. Florida private hard money mortgage options may be worth reviewing if timing is tight or the property needs repairs. Ask about the total cost, maturity date, and how you plan to repay the loan.
• Refinance while the property is for sale. If the estate or heirs already listed the property, ask the lender about its listing restrictions before applying. See cash-out refinance options for Florida properties listed on the MLS.

How much cash could you receive?

Suppose the inherited property appraises at $400,000 and you qualify for a $260,000 new loan. After paying off a $150,000 mortgage and $8,000 in estimated closing costs, approximately $102,000 remains before other liens, credits, or any required payment to co-heirs. The closing agent can show how much would actually be available and who receives it. This example illustrates the calculation. It does not represent a loan offer or program limit.

What documents should you gather?

Start with the property address, current deed, mortgage statement, death certificate, and the will or trust documents if available. If probate is open, include the case number, letters of administration, and any relevant homestead or distribution orders. If several heirs are involved, share any written buyout agreement with the title company. A current payoff statement helps confirm the balance, including any arrears and fees.

Florida inherited property refinance FAQs

Can I refinance to buy out my siblings?

Possibly. The lender and closing agent need to confirm who owns each share, who must sign, and how the buyout will be paid. Ask the lender whether it treats your specific buyout as a cash-out refinance or under a separate co-owner buyout rule.

Can I refinance an inherited home that has no mortgage?

Potentially. A new mortgage on a free-and-clear inherited home can provide cash if ownership is documented, title can be insured, and the borrower and property qualify.

Can I refinance if a foreclosure case has already been filed?

It depends on title, lender eligibility, the amount required to resolve the case, and any sale deadline. Give your probate attorney and mortgage advisor the case number, payoff information, and scheduled sale date, if any. Learn more about refinancing a Florida property with a foreclosure lis pendens.

Review your Florida probate refinance options

Call or text Thomas Martin at 954-667-9110. Have the property address, estimated value, current payoff, and probate status ready so we can discuss which financing options may fit.

Coast 2 Coast Mortgage, LLC (NMLS #376205) is a mortgage broker. Financing is subject to lender approval, title review, and program requirements. Consult a Florida probate attorney about ownership, homestead, and authority to sign.

Florida Cashout Refinance Inherited Property with No Income Verification Coverage Areas