https://ficoforums.myfico.com/t5/Mortgage-Loans/Just-bought-a-home-How-soon-can-I-refinance/m-p/4917308#M206464 <P>Criteria is similar to purchasing a home, but instead of a down payment requirement there is an equity requirement.&nbsp; Usually you'll need at least 5% equity (unless you find a special program like NFCU's 100% financing again).&nbsp; You'll need to know the full&nbsp;terms of the refinance to determine if you'll come out on top though.&nbsp; It may or may not make sense, it will all depend on the refinance terms.</P> Wed, 12 Apr 2017 15:39:28 GMT ShanetheMortgageMan 2017-04-12T15:39:28Z https://ficoforums.myfico.com/t5/Mortgage-Loans/Just-bought-a-home-How-soon-can-I-refinance/m-p/4916677#M206432 <P>So, I went with NFCU 100% Financing Homebuyers mortgage option. The APR is 5.2%, yet no money down <STRONG>AND </STRONG>no PMI.</P><P>&nbsp;</P><P>The cost of the home is only 128K<BR /><BR />I did the math, even if I refinance 2-3 years down the road, I still come out on top...What is the criteria to refinance, is this feasible?<BR /><BR /></P> Tue, 11 Apr 2017 22:34:41 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/Just-bought-a-home-How-soon-can-I-refinance/m-p/4916677#M206432 XxRaVeNxX1 2017-04-11T22:34:41Z https://ficoforums.myfico.com/t5/Mortgage-Loans/Just-bought-a-home-How-soon-can-I-refinance/m-p/4917308#M206464 <P>Criteria is similar to purchasing a home, but instead of a down payment requirement there is an equity requirement.&nbsp; Usually you'll need at least 5% equity (unless you find a special program like NFCU's 100% financing again).&nbsp; You'll need to know the full&nbsp;terms of the refinance to determine if you'll come out on top though.&nbsp; It may or may not make sense, it will all depend on the refinance terms.</P> Wed, 12 Apr 2017 15:39:28 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/Just-bought-a-home-How-soon-can-I-refinance/m-p/4917308#M206464 ShanetheMortgageMan 2017-04-12T15:39:28Z