How long do i need to wait to refinance my house?

Burton
Legally, you don't have to wait at all.Economically speaking, it depends upon your situation. Have you paid the loan down? Has the value increased? Has your creditworthiness increased? Are rates lower? Do you have a pre-payment penalty that you're going to have to pay?Most people refinance the wrong way, which is why I keep running into people who bought their homes in the seventies for $40, 000, and owe $400, 000 now.

Cleopatra
You should be able to refinance immediately though you will need to examine your current loan to see if it has a pre-payment penalty.

Broderick
If it was a purchase I would advise waiting at least 6 months prior to refinancing. Many investors require 6 months in the home to refinance. If you have been in the home for a while and just opened a new loan, you can refinace the day after your mortgage closes. Of course, you want to verify if your current loan has a pre-payment penalty, usually 3 years. That can be a hefty fee, of approximately 6 months in interest payments. Please feel free to contact me with any questions or concerns, or if I can be of further help: JessicaStephens@banncor.com. Best of luck.

Alaine
Well if you just purchased the house recently meaning anytime within the last 3 years you should first find out if there is equity in the house. If there is sufficient equity in the house for you to refinance the next question is is there a pre-payment penalty. Even if there is equity and you have a pre-payment penalty that will mostlikely eliminate the benefit of you refinancing. If you are interested in getting a loan program with low rates, great loan programs and service log onto http://www.justgetaloan.net. For additional assistance feel free to contact me at 866 530 7300 ext 7305 or by email at jfreeman@justgetaloan.net