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Edgar DeJesus

Can I Refinance My Current Home If I Have It Up For Sale?

Tuesday, April 9, 2013 - Article by: Edgar DeJesus - The DeJesus Group / ABC Lending Solutions, Inc. - Message

Last week Florida home loan interest rates dropped even lower. While already at historic lows many homeowners who have been unable to sell their home quickly considered keeping their home if they can refinance to a low enough interest rate thus seeing an improvement in their monthly mortgage payment.

Our company has had several clients asking the same question "Can I refinance my home if it's currently up for sale?" The quick answer is no you can not refinance your Florida home if you have it up for sale. However Florida mortgage brokers have different requirement(s).

Here is one of them i.e. you might need to have your property off of the MLS for at least one day and provide proof via a withdrawn MLS sheet that the home is no longer listed. Other lenders might require 6 months off of the MLS. This is just one example of what could be several requirements.

When talking with a mortgage planner make sure you ask them to share with you all of the specifics that are required to complete the refinance, as I'm only sharing one of the many that might be needed.

If you have your home up for sale and would like to refinance contact a Florida mortgage professional who can advise you on how you can begin the refinance process. Since different mortgage brokers and lenders have different guidelines I recommend you don't delay because it could be as simple as waiting 1 day to make application or as long as 6 months. The sooner you take action the greater your opportunity of taking advantage of today's historic low interest rates.

There are many different factors that will dictate whether or not you'll be able to refinance. Some of these factors are: type of home, usage of home, credit scores, type of employment, amount of current debt and your current equity position known as your loan to value, etc.

If you have any questions my team and I are available for you, You can find us at

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