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Posted: Sun Oct 19, 2008 3:02 pm Post subject: refinance

can a mortage company tell you how long you have to stay in your home to be elegible to refinance?

smithsussane · Posted: Sun Oct 19, 2008 7:38 pm Post subject:

Hi Guest!

Welcome to forums!

Yes, a mortgage company may tell you the time period you need to stay in a house to get a refinance. But generally, you will have to stay around 7 months in order to get a refinance.

Feel free to ask if you have further queries.

Sussane

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

That's not true. Most lenders do not have a requirement. You can refinance one day in the home. However, some lenders will require that the purchase price be used to qualify rather than the appraised value for 6 months to a year. But again, generally, if you do have good credit, there are many lenders that will allow you to use the appraised value from day one.

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