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willimartha · Joined: 27 Jun 2009 Posts: 57 -0.11 Dollars($)

How long after you close on a mortgage do you have to wait to refinance

savior70 · Posted: Sat Jul 18, 2009 6:46 am Post subject:

Hi,

If there's enough equity in the property, you may not have to wait to refinance. However, some lenders do have a seasoning requirement of 6-12 months. You'll have to stay in the property for that long in order to be able to refinance the property.

dollylee9 · Joined: 19 Jul 2009 Posts: 63 -0.14 Dollars($)

This is a multi part question with a multi part answer. First do you need to refi? Are you looking to get cash out of the refinance? How long have you owned the home? Has something happened to give additional value to the property over and above the purchase price?

jk9999 · Joined: 15 Jul 2009 Posts: 111 1.82 Dollars($)

it depends on a what type of mortgage it is for, home or investment property, what strategy you use to refinance, is it for cash out or rate and term loan. It also depends on the lenders. Some lenders can do rate and term loan with no seasoning requirement, so has seasoning requirement. For the cash out refinance, it is now even more tight ,esp for investment properties. So you may give more info on your refinance. Hope this helps.

eric1 · Posted: Mon Jul 20, 2009 4:30 pm Post subject:

Six to twelve months depending upon the lender.

Garysnober · Joined: 17 Mar 2009 Posts: 450 15.29 Dollars($)

yes 6-12 months is what most lendors look for before allowing a refi.

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