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If you are on an adjustable rate mortgage and planning on staying in your home long term, now may be the right time to considering locking in a new low fixed rate mortgage or risk paying a much higher adjustable rate down the road. Remember to look at the big picture when you make the decision to refinance.

How quickly you can refinance a home after purchase often depends on the amount of equity you have in the home. Buyers who put down large deposits can typically refinance at will. Buyers who put down less than 10 percent may have to wait months or even years for lender approval at a good rate.

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Hi Richard – As long as it is a rate-term refinance, with no cash out, you should be able to refinance now with a new lender. Keep in mind however that the original lender loses out if you refinance within 6 months of the purchase, and that usually means the loan officer who helped you will lose their commission.

It’s available to veterans who want to refinance an existing VA home loan with a history of on-time payments. One mortgage payment that was less than 30 days late in the last 12 months is OK, as long as you’re current now.

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There's a chance your home mortgage refinance may get cancelled even after signing the closing documents. Read to learn more about the.

 · Figure out how long it may take for your refinance to pay for itself. To do this, divide your mortgage closing costs by the monthly savings your new mortgage will get you. If you’re paying $5,000 in closing costs but you’ll save $200 per month as a result of refinancing, it will take you 25 months to.

In some instances, you may have to wait for a number of payment cycles before lenders will be interested in refinancing your mortgage, but more often you can refinance as often and as soon as you’d like. Whether you should refinance often and soon is another matter. At some point, it will cost you money, and it may lower your credit score.