Financing in Central State>Question Details

Matt, Home Buyer in Finn

How soon after purchasing a home can a person refinance? Is it possible to refinance without paying any fees?

Asked by Matt, Finn Thu Nov 8, 2007

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At least 1 year due to seasoning requirements. And, IF a lender will due it prior to 1 year you can bet you pay big bucks for it.

Ultimately, what establishes the value of a property is what a seller is willing to sell it for and buyer is willing to able to pay for it. Thus, the underwriter will question the sudden appreciation of the property. In the current lending market I'd say be prepared that they might make you 'prove' the property has appreciated as much as you say it has.
0 votes Thank Flag Link Thu Nov 8, 2007
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