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Started By
Message
How soon could one refinance a mortgage?
Posted on 10/2/12 at 11:55 am
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?
4
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.
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
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.
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 10/2/12 at 12:44 pm
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.
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.
Posted on 10/2/12 at 1:52 pm to hawkeye007
(no message)
This post was edited on 10/2/12 at 4:51 pm
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.
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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