Posted on: 18th Jul, 2011 06:59 pm
i purchased home two months back...with 10% down payment and escrow account...now want refinance with 20% down payment...can i refinance my home or not.
Hi Ven!
Welcome to forums!
You may not be able to refinance your home loan within 2 months. You may have to wait for 8-10 months in order to refinance.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You may not be able to refinance your home loan within 2 months. You may have to wait for 8-10 months in order to refinance.
Feel free to ask if you've further queries.
Sussane
Try at the 6-month interval, and you may well be able to find a lender willing to do the loan.
If you refinance, do you plan on paying down the mortgage to a lower amount out of pocket as well as pay closing costs out of pocket,
or
are you saying the value of the property is much higher than the purchase price and you want to refinance based on the appraised value rather than the purchase price?
or
are you saying the value of the property is much higher than the purchase price and you want to refinance based on the appraised value rather than the purchase price?
Those may be the toughest questions for most of our poster/borrowers to answer, John...but of course you know that.
George, always the voice of reason and sanity.
And, always so polite diplomatic at the same time.
If Ven GG can answer my question, I can answer his as far as Fannie mae and Freddie Mac loans are concerned. There are always local porfolio lending banks that have no seasoning requirements.
And, always so polite diplomatic at the same time.
If Ven GG can answer my question, I can answer his as far as Fannie mae and Freddie Mac loans are concerned. There are always local porfolio lending banks that have no seasoning requirements.
Always?? I don't know about that, John.
I'll take the compliment and bow humbly nevertheless. Thanks.
I'll take the compliment and bow humbly nevertheless. Thanks.