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Can I refinance an equity loan?

Posted on: 27th Feb, 2008 01:01 pm
can i refinance an equity loan?

let say i borrow an equity loan to purchase an investment proterty. then 2 months down the road, i want to refinance this loan for a lower interst rate. any pro's and con's ?
Hi khanht,

Welcome to the forum.

I don't think you can refinance just after two months of your equity loan. You need to wait at least for 12 months to refinance the equity loan.

Best of luck,
Larry
Posted on: 27th Feb, 2008 01:24 pm
khanht,

I doubt whether you'll be able to refinance just within 2 months. At least 6 months or maximum of 12 months of payment record needs to be shown for a refinance. By the way, why do you wish to refinance the equity loan?
Posted on: 27th Feb, 2008 09:43 pm
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