how soon can you refinance your home

Most lenders are indicating on the loan documents that there are no pre-payment periods; meaning you can sale or refinance at anytime without a penalty on the sales price. The main thing is to make sure their is equity in your home, as you will pay on closing costs of 3% just like when it was purchased.

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How Soon Can You Refinance Your Home After Buying. – Having very little equity is common in a newly purchased home. Refinancing will restart the mortgage terms and thus lengthen the time you will owe payments on your mortgage. When you are planning to stay in the house for a long period of time, refinancing for a lower interest rate can be beneficial. Refinancing when there are plans to sell soon will most likely cost you money instead of saving it.

NerdWallet. You build equity as you make monthly payments and pay down your principal, but other factors, most notably home price appreciation, can speed up or slow down the equity-building process.

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8 common refinance mistakes – Here are eight common refinance mistakes to avoid. For starters, know your credit score, which is key to determining the rate you will receive. You can your credit score for free at WisePiggy.com..

How Soon After Refinancing Can I Refinance Again? – Garden. – While you can legally refinance at any time, there may be some costly consequences to this decision. When considering refinancing, the more relevant question is how long "should" you wait before refinancing again. Only a few lenders are likely to approve refinancing if you have been in your current mortgage for less than a year.

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How Soon Can a Person Refinance an FHA Loan? | Pocketsense – An FHA refinance can’t be a cash-out refinance so you’ll have to look elsewhere if your primary goal is to turn some of the equity in your home into a more liquid asset. You’ll go through a similar process to qualify for the loan, as you did for your original mortgage — prospective lenders will probably insist on a property appraisal, income.

Should You Refinance Your FHA Loan to a Regular Loan. – If you’re trying to lower the cost of your mortgage payments but your credit isn’t in great shape, an FHA streamline refinance can do that for you without a lot of extra paperwork. You will, however, still have to make annual mip payments, so it’s somewhat of a trade-off.