Source: CBS News —
When you refinance your mortgage, you replace it with a new one. Sometimes, this allows you to get a lower rate or monthly payment, or it might also come with cash back, which you can use to cover home repairs or any other expense you might be facing.
Mortgage refinancing isn’t for everyone, though. In fact, there are some waiting periods that loan programs enforce before you can proceed. if you think refinancing your home loan makes sense then start by answering a few simple questions to see what rate you’re eligible for.
How soon can you refinance your mortgage?
Are you considering a mortgage refinance? Here’s how soon you can do it for each type of home loan.
Conventional loans
If you want to refinance your conventional loan to a new one with a different rate or term, there’s no waiting period, and you can do this as soon as you’d like. Just understand: It may cost you.
