Can I refinance again only after 3 months?
I am a homeowner and I have a mortgage on my property which I refinanced just 3 months back. But now I notice that the rates in my area have fallen further and I would like to refinance the loan for a second time. Is it possible for me to refinance the loan again within 3 months? by shannaadkins99 from Huntington, Indiana. Jun 7th 2011
James Barath (JamesBarath)
#9 ranked lender in Indiana - 352 contributions
Yes you can so long as you have a real benefit and your break even point is less than 36 months. Be advised that you might be required to bring funds into the closing. Have a great day!
Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions
Same answer as the rest- there needs to be a significant net tangible benefit for refinancing which can include changing term.
Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions
It will depend on the lender you go with. If there is a strong enough benefit to you by refinancing, such as a savings of at least 5% of your payment, you might have a shot. Most lenders will make you wait 6-12 mos, but if there is a strong benefit and you are not cashing out, its possible. Contact some lenders in your area and go from there. You can ask them upfront what their seasoning requirements are before you apply.
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