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Can I re-fi of recent Texas A6 HELOC loan along with re-fi of 1st Lien?

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Icon Mini Profile twsword1





Joined: 19 Mar 2009

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Post Posted: Thu Mar 19, 2009 12:18 pm    Post subject: Can I re-fi of recent Texas A6 HELOC loan along with re-fi o
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Plan to re-fi my 1st lien. I also have a HELOC that was created less than a year ago (was a re-fi of a previous home equity loan), I believe this one is an A6 type loan. Clearly I couldn't re-fi the HELOC by itself, since it's less than 12 months old. But I've received conflicting answers from lending institutions about whether I can include the "new" HELOC in my re-finance of the 1st lien, rolling them together in a single 1st lien. Any know for sure?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

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Location: Nevada
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Post Posted: Thu Mar 19, 2009 7:16 pm    Post subject:
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Hi twsword,

As far as I know, you will not be able to include your new HELOC when you are refinancing your first loan. This is because the HELOC was created less than a year ago. In order to refinance a loan, it has to be at least a year old.

Thanks
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