How soon could one refinance a mortgage? | TigerDroppings.com

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LSUSUPERSTAR
LSU Fan
TX
Member since Jan 2005
9843 posts
 Online 

How soon could one refinance a mortgage?



We closed two months ago, could we refinance in a few months in rates continue to fall?






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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3873 posts

re: How soon could one refinance a mortgage?


quote:

could we refinance in a few months


Yes, I believe so.

quote:

rates continue to fall?


Assuming you got a pretty good rate as is, I would think it would be too soon. But there are plenty of smart people on here that could help you.






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Crbello4Hiceman
LSU Fan
Lurking
Member since May 2011
438 posts

re: How soon could one refinance a mortgage?


I was told 6 months, but not sure if that is specific to mine or just to loans in general





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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16950 posts

re: How soon could one refinance a mortgage?


There's no way that 30 bps is enough to make refi'ing economical. Is there?

ETA: You won't get as good of a rate on a refi any way. It would probably be a wash on rates.



This post was edited on 10/2 at 12:44 pm


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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30200 posts

re: How soon could one refinance a mortgage?


I see no reason why you couldn't. I'd run the numbers to make sure it's worth the time and money, it may not be.





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hawkeye007
LSU Fan
greenwell springs
Member since Feb 2010
1977 posts

re: How soon could one refinance a mortgage?


you have to wait 6 months to refinance thats a fannie mae rule. but not unless the rates are 1.25% lower that what you have now its not going to be worth it.





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Ziggy
New Orleans Saints Fan
Ponchatoula, LA
Member since Oct 2007
20680 posts

re: How soon could one refinance a mortgage?


(no message)


This post was edited on 10/2 at 4:51 pm


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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
11439 posts
 Online 

re: How soon could one refinance a mortgage?


Correct. Mortgage loans are usually required to season for 6 months before a refi.





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LSUSUPERSTAR
LSU Fan
TX
Member since Jan 2005
9843 posts
 Online 

re: How soon could one refinance a mortgage?


quote:

you have to wait 6 months to refinance thats a fannie mae rule


I don't have an FHA loan, I have a conventional one. My credit score was 715 and we have a 4% interest rate on a 30 yr loan. I was just thinking if 30 yr rates somehow get into the mid 2s, would it be worth it? The loan amount is around 178k.






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