Many lenders would require 12 months seasoning period before allowing a refinance. You need to check your mortgage note, this clause might have been stated in it.
Does it still apply if you were to assume a new mortgage from someone?
There won't be much difference even if it is a assumable mortgage Charles.
Hi Chastucker,
Once you purchase a home, you can immediately go for a refinancing after that. But sometimes it depends upon lenders.
Some lenders may give the time limit of 12 months before which you cannot refinance. While other lenders may allow for immediate refinance after buying a home.
Once you purchase a home, you can immediately go for a refinancing after that. But sometimes it depends upon lenders.
Some lenders may give the time limit of 12 months before which you cannot refinance. While other lenders may allow for immediate refinance after buying a home.
Hi Chastucker,
A lot depends on your credit profile and your financial status. And, there's no such rule that you cannot refinance in a year or even less if it's an assubale mortgage.
Thanks.
A lot depends on your credit profile and your financial status. And, there's no such rule that you cannot refinance in a year or even less if it's an assubale mortgage.
Thanks.