Good Morning!
I had someone last week that wanted to refinance after a recent listing – and I thought you should be aware of the possible implications of this situation.
If you are torn about whether to refinance your current house – or – to list it for sale – here’s something for you to keep in mind…
Once you list a property for sale on the Multiple Listing Service – you will have to wait a period of time before you can refinance that same property.
How long do you have to wait? …The guidelines vary from wholesaler to wholesaler.
…on cash out refinance loans – some guidelines will have you wait up to a year before you can refinance.
…on a refi to lower your rate or term – you will have to wait anywhere from 60 days to six months.
Again, these are the guidelines you will face if your house is coming off of a MLS listing. …However, there are certain exceptions.
…for instance, I still have a source that will allow a refinance with one day off of a MLS listing! Not many loan officers are aware of it – but I am! …so, if you are in this situation – just give me a call.
Have a good day today! …and thanks for reading.
Brett
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