Posted on: 19th Oct, 2008 03:02 pm
can a mortage company tell you how long you have to stay in your home to be elegible to refinance?
Hi Guest!
Welcome to forums!
Yes, a mortgage company may tell you the time period you need to stay in a house to get a refinance. But generally, you will have to stay around 7 months in order to get a refinance.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Yes, a mortgage company may tell you the time period you need to stay in a house to get a refinance. But generally, you will have to stay around 7 months in order to get a refinance.
Feel free to ask if you have further queries.
Sussane
That's not true. Most lenders do not have a requirement. You can refinance one day in the home. However, some lenders will require that the purchase price be used to qualify rather than the appraised value for 6 months to a year. But again, generally, if you do have good credit, there are many lenders that will allow you to use the appraised value from day one.