how long should i wait to refinance my house

If you get lower payments as a result of a lower interest rate, you may end up saving money (as long as you refinance at the beginning of your loan period). But if you wait several years before refinancing, you restart the interest cycle and amortization process described above, and you pay interest for several more years.

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There are both good and bad reasons to refinance, and they are not just based on interest rates. Find out when refinancing makes the most sense and when it could be a bad move.

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If your goal is to reduce your monthly payment to save money, consider whether you plan on staying in your home long enough for the monthly savings to outweigh the upfront refinancing costs. LendingTree’s refinance calculator can help you calculate your break-even point (the length of time you’ll need to stay in your house to offset those.

Refinancing Home after Bankruptcy and Chapter 7 | Mortgage. – The federal housing administration (fha) requires you to wait at least two years after bankruptcy discharge before applying for an FHA-backed refinance after chapter 7 loan. private refinance loans are different, though, and may have easier or more stringent qualifying standards.

Do it as often and freely as you like as it financially makes sense to do so.. A big payment reduction or a lender credit refi scenario can help.

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How Soon After You Purchase A Home Can You Refinance. – One reason it takes so long to refinance right now is that just about everybody who can is doing so, and therefore the lenders are backed up like the worst traffic jam you’ve seen in your life. If you got your current loan based upon a property value of $400,000 and total loans of $380,000, that’s a 95 percent loan to Value Ratio .

Can I sell after refinancing or how long do i have to wait? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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