A frequent question for new homeowners is, “How soon can I refinance after buying a home?” While you technically own the home, certain “seasoning” requirements apply to Cincinnati mortgage holders.
Understanding Refinance Waiting Periods
- Rate-and-Term Refinance: You can often refinance immediately, though some lenders require waiting 6 months.
- Cash-Out Refinance: Most programs require you to be on the title for at least 12 months before taking cash out.
- FHA and VA Loans: These typically require a 210-day waiting period and at least 6 on-time monthly payments.
Is your current rate too high? Reach out to CincyRefinance to see if you’re eligible to switch today.