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We had listed our house for 1 month. The relationship with the real estate agent went south and we pulled the listing. If I want to stay where I am, how long until I can apply to refinance out existing mortgage?
I don't think having your home listed will impact whether or not you can refinance. It all depends on how long you've had the loan. If you've had your mortgage for at least six months you should be ok. Considering you've considered moving, since you did just have it listed, be sure to perform a break even analysis on the cost (i.e how long will it take you to recoup the closing costs). If it take three years to break even and you plan to move in next summer it probably won't be worth it.
Location: central, between Pepe's Tacos and Roberto's
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If you have documentation that the listing was terminated and are not planning on taking any cash out then you should not have any issues. If you are planning on taking cash out then you will be required to wait 90 days.
Based on two conversations today with REFI officers, you usually have to wait. Wells Fargo requires six months for a REFI or a HELOC. Americash would do it with only one day off market.
This is with excellent credit, 3-yr old loan, no cash out...wish I'd known sooner!
Location: Visitation between Wal-Mart & Home Depot
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Quote:
Originally Posted by djw
Based on two conversations today with REFI officers, you usually have to wait. Wells Fargo requires six months for a REFI or a HELOC. Americash would do it with only one day off market.
This is with excellent credit, 3-yr old loan, no cash out...wish I'd known sooner!
I would advise you to expand your search to include some private mortgage brokers for the refi. Big banks just can't be as competitive and they do not have your interests in mind. A little legwork will probably pay off in this regard.
Based on two conversations today with REFI officers, you usually have to wait. Wells Fargo requires six months for a REFI or a HELOC. Americash would do it with only one day off market.
This is with excellent credit, 3-yr old loan, no cash out...wish I'd known sooner!
I broker to Wells Fargo and they don't require us to wait 6 months. 1 day off MLS is fine w/ letter of explanation.
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