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 sewsosweet
Joined: 21 Jul 2008
Posts: 3
1.83 Dollars($)
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 Posted: Mon Jul 21, 2008 6:05 am Post subject: texas refinance |
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| how soon after a new home purchase can you refinance in Texas |
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Niicss
Joined: 03 Oct 2005
Posts: 3255
Location: New Jersey
513.90 Dollars($)
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| Posted: Mon Jul 21, 2008 6:07 am Post subject: |
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Welcome sewsosweet.
you can refinance the mortgage loan at least after an year. So when have you got the mortgage? Why are you willing to refinance?
_________________
Good is the Enemy of Great. |
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sewsosweet
Joined: 21 Jul 2008
Posts: 3
1.83 Dollars($)
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| Posted: Mon Jul 21, 2008 6:15 am Post subject: |
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| It is a long and complicated story.... I was hoping I could refinance immediately... It would be a no cash out reifinance.... I know that you can only refinance once a year in Texas.... I thought perhaps a purchase and then refinance might be different. |
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Niicss
Joined: 03 Oct 2005
Posts: 3255
Location: New Jersey
513.90 Dollars($)
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| Posted: Mon Jul 21, 2008 6:24 am Post subject: |
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As fer as I know you cannot refinance within a year after getting the mortgage loan in Texas. But You can certainly shop for lender and find out if there is anyone who will allow you to refinance even though one year has not been completed after taking the loan.
_________________
Good is the Enemy of Great. |
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sewsosweet
Joined: 21 Jul 2008
Posts: 3
1.83 Dollars($)
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| Posted: Mon Jul 21, 2008 6:27 am Post subject: |
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| Thanks....that is probably what I will do. We feel like we have been taken advantage of and now find ourselves at that their mercy. |
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ckalvesmaki
Community Experts
Joined: 28 Jan 2006
Posts: 377
Location: Dallas
56.51 Dollars($)
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| Posted: Fri Aug 01, 2008 7:58 am Post subject: |
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For a rate and term refi there is not a one year waiting period in TX....for cash out there is....What terms do you currently have? For an FHA loan new value can't be used until you have been in the house a year. How much do you owe on the house and how much is it worth? Did you put money down?
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Cedric Kalvesmaki
***Professional Disclaimer***
While I am a Mortgage Professional, this advice is generic in nature only.
888-383-9019
emails and PMs gladly answered
www.freedommortgagetexas.com
Freedom Mortgage
I live in TX but cover all 50 states |
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