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2nd Refi question

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GetMeSlick
Established Contributor

2nd Refi question

I have a question on applying 2nd Refi now. 

 

I had my home refinanced last Aug 2019. 

 

Is there any minimum duration I need to wait to look for applying the next refi?

 

Do I look unusually in front of new mortgage company for frequent refi hops?

 

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NC_Mtg_Loaner
Valued Contributor

Re: 2nd Refi question

What type of loan do you have?

FHA may require you wait 6 months or 210 days from the date of last deal before you are eligible to refinance again.   Conventional loans may have early payoff penalty where your last LO will be charged back his commission if that loan is paid off before 7 months' payments have been made on the new loan. 

 

 

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Licensed NC Mortgage Loan Originator
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