Can I refinance a mortgage if I had only a few months?

Deal Score0

Problem, we recently had our house for sale, but have since changed my mind. We applied for a loan on the net through our small local bank (17,000), if my husband could buy a car and we could pay some bills. In the meantime, when co mortgage over, we asked for this loan, we want them to consolidate all our debts and save us $ 600 a month, even if we double our payment terms. So we went with the utmost cooperation, but after going through the whole process with them, they came back and said that since our house was recently on the market, it should wait 60 days to obtain a loan. (This would be a 100% LTV) My question is whether we are prepared to the smallest of our bank (which is not only 100% LTV loans) could go, we have, in fact, a home equity loan few months later receive street to repay the loan 17000 and also pay the remainder of our debt? Is there a rule on how long after getting a mortgage loan before applying for other

  1. Reply
    May 14, 2011 at 12:16 am

    Yes, you can do that. However,

    You will have to pay closing costs twice.

    There is often a prepayment penalty on Home Equity loans if they are closed in less than 2 or 3 years.

    the higher LTV loan will likely have a higher interest rate.

    Take both of those into account before you make your decision

  2. Reply
    May 14, 2011 at 12:18 am

    Feel free to contact me, If you send me an email I can give you a number to call me and I would be more than happy to look and this situation and also, (i’m wondering what state you’re in), then i can definitely assess this situation and see what we can do for you.

  3. Reply
    May 14, 2011 at 1:05 am

    Leave a reply

    Register New Account
    Reset Password