How long can a real estate investor own a property before th

chastucker_2000 · Joined: 14 Aug 2007 Posts: 1 1.35 Dollars($)

If I purchase a home as an investor in the state of Texas or Tennessee, how long would I have to own the property before I could be allowed to refinance it? If I purchased a property with an assumable mortgage on it, is the timeframe different?

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

Many lenders would require 12 months seasoning period before allowing a refinance. You need to check your mortgage note, this clause might have been stated in it.

Guest 0.10 Dollars($)

Does it still apply if you were to assume a new mortgage from someone?

Guest 0.10 Dollars($)

There won't be much difference even if it is a assumable mortgage Charles.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Chastucker,

Once you purchase a home, you can immediately go for a refinancing after that. But sometimes it depends upon lenders.

Some lenders may give the time limit of 12 months before which you cannot refinance. While other lenders may allow for immediate refinance after buying a home.

helping_user · Posted: Wed Aug 15, 2007 2:32 am Post subject: RE: assumable mortgage refinance

Hi Chastucker,

A lot depends on your credit profile and your financial status. And, there's no such rule that you cannot refinance in a year or even less if it's an assubale mortgage.

Thanks.

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