REFI and need a car (escrow, credit score, refinance, property)

[monimoni]

I signed my closing docs yesterday for my refi with cash out. I did this with a notary that came to my house. how long do I have to wait to purchase a car running my credit. I don't want to miss anything up.

[Pfhtex]

You can do that right now, they ran the LQI soft-pull credit update before they issued closing docs. If you want to play it super-safe, do it Tuesday.

[Slytrix]

Don't do it until you know your new trust deed has recorded. Some states have a 3 day right of recission on refinances and then they fund and record.

You should know when this happens since it is a cash out. Are they just going to mail you a check or will you pick it up at escrow?

[jaynarie]

Originally Posted by Slytrix

Don't do it until you know your new trust deed has recorded. Some states have a 3 day right of recission on refinances and then they fund and record.

All states and DC have a 3 day rescission period as long as it is a primary residence. If it is a second home or investment property, there is no rescission period.

OP- that is 3 BUSINESS days. So with it being a holiday weekend and assuming it is your primary residence, your funding date should be 5/30. However, this will not affect your credit in any way. You are the only one who can stop your refi at this point. It should not matter to the mortgage company what your credit score is any more.

[Dmitriy Bleynis]

Jaynarie is correct. I work for a Mortgage Lender and this information is accurate.