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I had taken out a mortgage in the end of 2010. I have some equity in my property. Will I able to refinance my mortgage now?

jerry · Posted: Tue Nov 08, 2011 12:43 am Post subject:

Hi Gemini,

Normally, you need to wait for 8-10 months after taking out the mortgage in order to refinance it. As that time period is over, you will be able to refinance the mortgage. You should contact your present mortgage lender or other local lenders in order to get a mortgage refinance.

Thanks,

Jerry

jveenstra · Posted: Tue Nov 08, 2011 6:31 am Post subject: Refinance

You can refinance now.

The question is: What is your purpose for refianncing?
Would you refinance just to ower your rate, which is a rate and term refinance
or
will you refinance to take cash out. In this case, it depends on several factors: What mortgage amount did you start with? What mortgage balance do you have now? How much money do you intend to take out?
What was the pourchase price?

sabrinatoss · Posted: Tue Nov 08, 2011 6:02 pm Post subject:

Hello Gemini,

I guess you can refinance as soon as a lender is willing to offer you a loan. Most banks require seasoning of at least 12 months before you can refinance a mortgage.

Idea

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