[jtrent68]

To get a lower interest rate do you have to wait a certain period to refinance a home after escrow close? Or can you refinance right away?

I live in California.

Thanks

[LisaB4657]

You can refinance immediately. There is no waiting period. The new lender usually likes to see some sort of payment history on your current loan but you should still be able to refinance anyway, particularly if your credit is good.

[jtrent68]

What the situation is, we have put an offer on a house and the seller is willing to carry 20%, but they would like us to refinance as soon as possible. I didn't know if we would have to wait a period or not.

I've checked all over the internet and can't find anything.

We do have a house of our own that is in escrow and the 8 years we have had that house we have never had a late payment. If we refinance with the same lender that has the loan our are old house they would look at that history?

Thanks

[LisaB4657]

There's no waiting period. And a lender would look at any loan history. You don't even have to refinance with the same lender who's holding your current loan. You should be able to get a loan anywhere.

[jtrent68]

Thanks so much for your information. That helped answer a lot of questions.

[LisaB4657]

My pleasure! Good luck with the re-fi!