Is their a time frame when you refinace your mortage b4 you can do it again? DId it in Jan want to this month?

Answer 1

Nah, I am doing the same thing ... as long as it has been 6 months and you have the equity to do it ....kr

Good Luck!

Answer 2

You didn't say why you want to refi again so soon. But unless you have amazingly gotten a lower interest rate in the past few months, as everyone else seems to be going up, then you need to find out about the "prepayment penalty" if you have one. Normally 2% of the entire loan amount, added to the new closing cost, and add that to your proposed monthly cost.

Even if you had a large loan, and some how just paid a big chunk on it, it still would make sense mathmatically to keep paying the old loan. If this is the situation, all you have done by paying more principle, is to shorten the duration of the loan.

Answer 3

You not only pay closing costs every time, but there are often penalties for early pay off on your current mortgage after refinancing. Mine is 2 years, but the owner of the loan offered to refi and waive the penalty.

Answer 4

There is not a time frame, but generally you have to pay closing costs and so every time you refinance someone is getting some money. This may be OK, but check your new terms carefully.

Answer 5

not really. you just need to find a company that will give you a good rate. sometimes your current company will do this if they have a better rate offer out there.