2007-01-25 17:47:00 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
There isn't a limit, but after so many times your house runs out of equity to refinance and your credit score somtimes drop. Check with a loan officer in you area.
2007-01-25 17:56:05 · answer #1 · answered by Chris P 3 · 0⤊ 0⤋
There is no law against refinancing so many times. But the thing that you have to look at, is the equity of your home. What is the value of it? Do you have enough equity in the home? Prepayment Penalties? Make sure you ask the right questions...Why do yu want to refinance? I work for Wells Fargo Home Mortgage..If you have any questions...Ask away!!
Have a Great Day!
2007-01-26 04:57:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There's no limit, it's just not smart to refinance more than once every 6 months, unless you have a darn good reason, like purchasing the house at a price significantly lower than the appraised value.
2007-01-25 23:58:47 · answer #3 · answered by togashiyokuni2001 6 · 0⤊ 0⤋
I'm sure there is know legal limit...you might have a pre-payment penalty in your contract..but you can still refinance
2007-01-25 17:56:14 · answer #4 · answered by Chris B 4 · 0⤊ 0⤋
It depends mostly on your credit and the equity in your house.If you do not have the value in the house the bank will not use it as collatoral.
See a mortgage professional....
2007-01-25 17:56:19 · answer #5 · answered by realestate_leader 3 · 0⤊ 0⤋