How long do you have to wait to refinance a house after you buy it?

Detra
I'm not a real estate expert, but I know you can do it as soon as you have thepapers in your name. The question is more of a financial one - what are yougoing to gain from refinancing. Most likely, it will cost money up front - howsoon can you recoup THAT money because of your new lower mortgagepayments.?

Laurene
just one day after all transaction complete. if you have NOC( no due certificate)

Bethel
What is the reason that you had to take a mortgage payment/rate, etc, that you weren't comfortable with? Was it your credit/employment history? If it was your credit score, what have you done to rebuild it in the last month, enough to warrant a better loan?There are several reasons why you should not refinance for at lease 4-6 months. First, of course, is costs. Secondly, if you refinance very shortly after closing, your new loan will not be on your credit report yet, and that can affect your ability to even get a loan in the first place. If it does hit your credit report immediately, your score is going to drop, since the account has no history, which could also affect your ability to get a new loan. Third, your mortgage banker and the company he/she works could get "recaptured" on your loan. This means that the loan officer who worked so hard to get you into your new home will have his pay reversed, the company has to cover any costs, including every single person that touched your loan (processors, underwriters, etc). Fourth, it will be a nightmare for your new company to close your loan, since your last one hasn't been recorded with the county yet.Work with someone who is going to give you the right information, like a good mortgage banker.

Deon
you can refinance right away. But its not always prudent as the closing costs will probalby make it not worth it. Who knows though maybe if you shop around and youve been there a few months already. Things may be different now...though not likely for the better.check it out : http://loans.savingslife.comOh also if you have prepayment penalties on your current loan, then it really might not be worth it. Like if you have a DiTech or Countrywide Loan

Aurore
I think Sarge927 pretty much gave you the answer you should consider.

Marvella
The only thing you have to wait for is all of the original mortgage paperwork to go through. Once you confirm that your mortgage company or bank has paid the money out to the seller (for me, my mortgage broker handed the check over to the seller when I closed), you can refinance. WARNING: It's not always a good idea to refinance, regardless of how long you've held your current mortgage. Every time you refinance, you have to pay closing costs. They can range from a few hundred dollars to several thousand dollars, and you either pay them out-of-pocket or you have them tacked on to your loan. Having the closing costs rolled into your mortgage can raise your interest rate and may require you to get mortgage insurance, which can cost a few hundred dollars a month depending. The general rule of thumb is you should wait until interest rates have dropped at least 1/2% (1% would be better) before you refinance.

Evan
You can do it one day after. However, most lenders want you to have at least 4-6 months in it before they'll refi you.