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Is there a limit to the amount of times we are able to refinance or a certain time needed between refis?

by hjv543269 from Ooltewah, West Virginia. Dec 18th 2017 Reply


Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

No restrictions. There are some limits on cash out, etc., but nothing stopping you from doing multiple refinances. The question I would want to address would be to make sure there is a significant benefit to you of course.

Dec 18th 2017
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Timothy Howard (timehoward)
#70 ranked lender in Utah - 154 contributions

You can refinance as many times as you want, but the downside is such that you well be losing equity in your home. Even though your equity is going up, there will most likely a time when housing prices will fall. Be aware of this and be smart how you do this. Plus on our side, the loan officer, if a person does refinance within 6 months we have to pay back our commission.

Dec 18th 2017
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Jason Vondrak (jvondrak)
#217 ranked lender in California - 1,741 contributions

Hello, there is no limit to the amount of times you can refinance.

Dec 18th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,428 contributions

More info needed, but in general, you can refinance as often as you wish so long as there is a benefit to you.. But if you are looking to pull cash out.. then there are waiting periods which vary depending on the loan product you are applying for.. The best advice I can give you is to contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Dec 19th 2017
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