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Refinance question, any mortgage expert?

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Refinance question, any mortgage expert?

I have a conventional loan LTV at 46% and want to do cash out refinancing.  My current loan balance is $172k and want to new loan to be about $230k.  House is worth about $370k-$390k.  The bad:  I just settled my last credit card account that I have charged off, I settled 9 total due to Covid that I had to take paycut but now got everything back to where it was.  My income is $80K. My only debts now are my morgages DTI @ 20%.  Everything else on my credit profiled reported as settled. 

How long do I need to let credit card settlement age before I can apply for refinancing?  My credit scores have been improving dramatically but I do not want to waste anyone's time if I cannot get approved.  

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Established Contributor

Re: Refinance question, any mortgage expert?

That will all depend on your mortgage scores as the income is there and there is no debts.

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