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I am told by my bank that in Texas you can't refinance a loan until you have lived in your house for 12 months. I have a conventional loan. Is this true?
Wiki User
∙ 14y ago
If this is your first mortgage or you just refinanced, the mortgage note can have a statement within that states you cannot refinance in the first 12 months of when you got the loan.
Wiki User
∙ 14y ago
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How early can you refinance a house?
6 months sorry if i got it wrong because i just guesed
What do you have to do to refinance your mortgage?
You have to go to the bank that has the loan on your house. They will have you fill out a bunch of paperwork. After that they will refinance your house.
Can I refinance my mortgage if I have low equity in my house?
Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.
Can you refinance a house after owning it for three months?
On the west coast you can. You may have to pay a prepayment penalty [ read the terms on your not ]. Otherwise there are lenders who will do it after one day. Other's want 6 months seasoning anal one's a year.
Why do people Refinance a house?
People refinance a house because they need money quickly. They might need money for a sudden illness, unexpected home repair or job loss. They also might refinance if the interest rates are low enough.
Can you refinance fha loan if your house is for sale?
Many lenders will not offer a loan if the property is actively being marketed for sale. Some require the property to be off the market for 3 months.
How can a person get a refinance mortgage?
An individual can get a refinance mortgage on their house by applying from one. Not everyone would be accepted though because their are some qualifications.
What kind of loan do you get when you refinance your house?
u get a pot load of money
Should you refinance your car loans before or after you buy a home?
There is no set rule on whether or not you should refinance your car loans before or after buying a house. This is your choice.
Can you buy a house and then immediately refinance it to add more down?
yes i think.
If you refinance the house after a year can you take the cosigner off the mortgage loan?
Yes.
Why is it bad to do a 100 percent refinance?
If you refinance and you don't have enough equity in your home, then you are paying refinance fees and adding to your debt, plus your house isn't worth what you are paying so there is more liability to the bank. Banks don't like to take risks on the owner defaulting since they rarely get what the house is worth if they have to foreclose.
