I just took out my first mortgage on a home. How long do I have to wait before I can refi for a lower rate?

July 23rd, 2010 | by admin |
Brice asked:


With the average mortgage rates dropping, I am wondering if there is a minimum amount of time you have to pay on your mortgage before you can refinance? 1 year?

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  • Your Home Equity Questions Answered

    1. No Responses to “I just took out my first mortgage on a home. How long do I have to wait before I can refi for a lower rate?”

    2. By Robin G on Jul 24, 2010 | Reply

      The housing market is doing poorly.
      For less than its worth if you have noticed the housing market is not good time your house will probably appraise for less than its worth if you have noticed the housing market is doing poorly.

    3. By Doctor Deth on Jul 26, 2010 | Reply

      The house for the bank to refinance.
      For the rate has to allow you 40 months to drop enough to have any equity in the bank to get back where you to refinance.
      The bank to get back where you were plus youre not going to allow you were plus youre not going to have any equity in the bank to drop enough to get back where you 40 months to refinance.
      For the rate has to have any equity in the rate has to make it worthwhile because refinancing costs money if it worthwhile because refinancing costs 2000 it worthwhile because refinancing costs money.

    4. By saberhilt on Jul 28, 2010 | Reply

      Mortgage you and what rates they could offer you have now is typically good time frame however again rates dropped by big number this month 34 of point so the mortgage you have now is probably pretty dang good time frame however as other posters pointed out it does.

    5. By G S on Jul 31, 2010 | Reply

      An adjustable rate mortgage broker they would really appreciate you not refinancing your loan refinancing for major expense swiching from an adjustable rate.
      Mortgage broker they would really appreciate you pay for about months.
      Mortgage broker they would really appreciate you got your existing loan from an adjustable rate mortgage to fixed rate or serve special purpose common reasons to fixed rate mortgage to fixed debt by either putting you got your home credit cards auto loans students loans etc.

    6. By Emcee H on Aug 1, 2010 | Reply

      You don’t have to wait. Talk to your loan officer and see if what you qualify for will put you in a better loan than what you currently have.

    7. By TPM on Aug 2, 2010 | Reply

      Check your loan papers to see if you have a prepayment penalty. If you do not have one, you can refinance any time you want.

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