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
USDA is a 100% government insured loan. Low rates, and no down payment. However, there…
The bad news is that according to Redfin, 38% of U.S. renters don’t believe they’ll…
In Texas we have some unusual rules when it comes to getting cash out of…
If you pay your property taxes apart from your mortgage payment, and you didn’t get…
If you purchased a home using your own cash, and now would like to pull…
Did you realize that when buying a house from an immediate family member – the…