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LSUSUPERSTAR 
LSU Fan
Arlington, TX
Member since Jan 2005
8714 posts
| How soon could one refinance a mortgage? (Posted on 10/2/12 at 11:55 am)
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
1815 posts
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 12:00 pm to LSUSUPERSTAR)
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
376 posts
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 12:20 pm to LSUSUPERSTAR)
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
16386 posts
 Online
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 12:43 pm to Crbello4Hiceman)
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
Member since Mar 2008
25159 posts
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 12:43 pm to LSUSUPERSTAR)
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
1234 posts
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 1:43 pm to LSUSUPERSTAR)
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
18594 posts
Online
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 1:52 pm to hawkeye007)
(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
8149 posts
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 7:03 pm to hawkeye007)
Correct. Mortgage loans are usually required to season for 6 months before a refi.
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LSUSUPERSTAR
LSU Fan
Arlington, TX
Member since Jan 2005
8714 posts
| re: How soon could one refinance a mortgage? (Posted on 10/2/12 at 9:38 pm to hawkeye007)
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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