Ask Experts Questions for FREE Help !
Ask
    j_smith_2007's Avatar
    j_smith_2007 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 21, 2007, 08:06 PM
    How soon can I refinance
    Hello, I would like to know how soon can you refinance once you purchase a property. I have heard different answers; one being you can refinance the next day, four to six months, once your credit score is higher. I currently have a ARMS loan and would like to know how soon can I refinance.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    Mar 21, 2007, 08:09 PM
    It will depend on your loan, ( well as to what your cost to refinance will be) many arms or other loans have provisions about payoff during the first 3 months to 2 years or so, where all the interest has to be paid through a certain payment if you refinace or pay loan off early.

    But if you don't mind the cost of the loan, there is no restrictions on refinanceing
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Refinance mortgage [ 1 Answers ]

My husband and I claimed Chapter 13 Bankruptcy 2 years ago and have been paying. We will not be paid off for another 3 years. Our current mortg. Is a 20 year and if we could get it to a 30 year our payments would be lower and that would help with our payments. The current lender is not...

Refinance [ 2 Answers ]

Our 1rst mortgage is a 5 yr ARM which will expire in about a year and a half. Our house has increased in value approx. 150 - 200 thousand $s. We bought it for 280 and owe about 195. We owe about 39 on our home equity loan. We want to pay this off, and we are in need of approx 75 thousand more....

How soon can you refinance after escrow? [ 5 Answers ]

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

Should I Refinance [ 1 Answers ]

Work's been tough the past year and I got behind on my mortgage as well as evey other bill. I HAVE ABOUT $35,000 WORTH OF EQUITY in my home. I was wanting to cash out $25,000.00 to catch up and finish a few projects around the house. Here's my problem. I've shopped around and since I've been...

View more questions Search