If i buy a house with instant equity how soon until i can refinance my mortgage and get that equity?

Asley
Is there a waiting period? I'd like to use the money to pay off my car and credit card, and I need it as soon as possible.

Robbi
Just get a home equity loan added to the home loan when applying.You will avoid the extra expenses and they will give you an equity line up to the allowed amount of equity.

Charley
It is a declining market. Lender is not going to lend you money, using a value that is greater than the purchase price.They have really tightened up regs on this. Lender must use the lower appraised value or purchase price when determining value of home. The waiting period is generally a year before you can get new appraisal, and use that value.

Lorie
It all depends on ratios, appraisals, and income, and your current credit. You should look into it, there's a chance of it being possibleCheck out Loan-Com.info and do a search for refinance loans. They have dozens of loan programs available at reasonable rates and affordable terms.

Porfirio
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Avelina
the two questions here are how much equity do you think you have and when did you buy the house?

Carin
Why don't you work that out in the original loan this will save you the cost of refinancing?