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Guest
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 Posted: Sun Oct 19, 2008 3:02 pm Post subject: refinance |
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| can a mortage company tell you how long you have to stay in your home to be elegible to refinance? |
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 smithsussane
Joined: 18 Sep 2008
Posts: 4546
Location: Alaska
445.32 Dollars($)
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| Posted: Sun Oct 19, 2008 7:38 pm Post subject: |
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Hi Guest!
Welcome to forums!
Yes, a mortgage company may tell you the time period you need to stay in a house to get a refinance. But generally, you will have to stay around 7 months in order to get a refinance.
Feel free to ask if you have further queries.
Sussane |
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lisascherzer
Joined: 04 Jan 2008
Posts: 755
1.11 Dollars($)
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| Posted: Mon Oct 20, 2008 10:58 pm Post subject: |
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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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Allpointe Mortgage
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