How long do you have to wait to refinance?
How long do you have to wait to refinance?? Ok this all depends on a couple of items. First did your loan have a prepayment penality??. If so I would recommend you wait until that period of time is over. Call you lender and ask. If you do not have a prepayment penality. Know that most loans have at least some closing costs. If your present loan rate is high for some reason and your financial sitution allows (Higher FICO) you can refi anytime. The rule of thumb is if you can get a lower rate at 2 points less that would be a good signal or if rates are rising and you have an ARM (adjustable rate mortgage) then perhaps, or another is your home has appreciated remarkably and you wish to draw on that money. Hope that helps.
