Ask Shop Rate: Christine, Houston, TX

Posted by  on Apr 16, 2009
I have a second home in Houston, TX that I just pulled off the
market after trying to sell for a year and leased. How long will I need to wait before refinancing? Is this state specific? Hello Christine,

The rules are 'lender specific' meaning different banks and lenders have different rules/policies for this. It isn't state specific though. If you are looking to lower your rate and not take any cash out then you need only to wait 30 days from 'de-listing' your home. If you are taking out cash, then you'll need to wait 60-90 days before you can refinance your mortgage, depending on the bank that you go to.


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