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Company Loan Type APR Est. Pmt.

Refinance duplex

Hi there… I'm buying a duplex and will be closing by the end of this week. I have known that its worth is about twice as much as the purchase price. I have a credit score of 730 right now. I will like to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] it soon. Is refinancing as good as it used to be?

jveenstra's picture
jveenstra | Joined: November 10, 2008 09:03 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Refinancing is not as good as it used to be, but, it could be.

You can refinance right away if you want to refinance based on the purchase price of the house. With some mortgage programs you may have to wait a year before you can refinance and take cash out based on the appraised value.

There are portfolio lenders who let you do cash out based on the appraised value the very day after you buy it. Portfolio lenders are regional and local, so, it depends where you are as to what you have access to.

Like | Dislike | Share | Posted: Tue, 01/03/2012 - 16:00 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

You will need 12 months seasoning on the new title before the lenders will consider the' appraised value' for computing LTV(loan - to - value) or take cash out.

The days of closing today and doing a cash out tomorrow are over.

Like | Dislike | Share | Posted: Thu, 01/05/2012 - 14:54

tomburris's picture
tomburris | Joined: October 3, 2007 09:09 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

You will need 12 months seasoning on the new title before the lenders will consider the' appraised value' for computing LTV(loan - to - value) or take cash out.

The days of closing today and doing a cash out tomorrow are over.

Like | Dislike | Share | Posted: Thu, 01/05/2012 - 14:55

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Sharon, you won't be able to refinance your mortgage immediately after you take out a loan. You will have to wait for at least 8-10 months in order to qualify for a refinance. The refinancing rules haven't changed. You will be liable for paying the closing costs when you refinance the loan.

Like | Dislike | Share | Posted: Tue, 01/03/2012 - 02:30

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Sharon, you won't be able to refinance your mortgage immediately after you take out a loan. You will have to wait for at least 8-10 months in order to qualify for a refinance. The refinancing rules haven't changed. You will be liable for paying the closing costs when you refinance the loan.

Like | Dislike | Share | Posted: Mon, 02/12/2018 - 23:10 | Post subject:

jveenstra's picture
jveenstra | Joined: November 10, 2008 09:03 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Refinancing is not as good as it used to be, but, it could be.

You can refinance right away if you want to refinance based on the purchase price of the house. With some mortgage programs you may have to wait a year before you can refinance and take cash out based on the appraised value.

There are portfolio lenders who let you do cash out based on the appraised value the very day after you buy it. Portfolio lenders are regional and local, so, it depends where you are as to what you have access to.

Like | Dislike | Share | Posted: Mon, 02/12/2018 - 23:10 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

You will need 12 months seasoning on the new title before the lenders will consider the' appraised value' for computing LTV(loan - to - value) or take cash out.

The days of closing today and doing a cash out tomorrow are over.

Like | Dislike | Share | Posted: Mon, 02/12/2018 - 23:10 | Post subject:

tomburris's picture
tomburris | Joined: October 3, 2007 09:09 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

You will need 12 months seasoning on the new title before the lenders will consider the' appraised value' for computing LTV(loan - to - value) or take cash out.

The days of closing today and doing a cash out tomorrow are over.

Like | Dislike | Share | Posted: Mon, 02/12/2018 - 23:10 | Post subject:

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