I'm curious to know the timeline where selling after a refi is appropriate/possible. I'd like to put up my house for sale but would like to refinance right beforehand. Is that possible? If so, how? by christian88angeli... from Bullhead City, Arizona. Sep 13th 2013
you can refi when ever you want. Just wait until the refi is complete b4 listing your home for sale
If you expect to sell promptly, avoid the the expense of a refinance. If you must pull out cash now, check with your new lender, to see if they have a restriction. Do not list your house for sale until after your new loan is closed.
What is the reason for the refinance? is the question. Do you expect to possibly need to keep the home, or are you looking for cash out as a down payment?You will want to discuss what you are trying to accomplish with a qualified Lender 411 Loan Officer.
The answers for "appropriate" and "possible" may be different. It is possible to sell your home the day after you refinance as long as there is no prepayment penalty on the loan. Appropriate is a little more cloudy, especially if you are choosing a "no cost"refinance. In a no cost refinance, the lender is paying all of your closing costs in return for a higher interest rate with the expectation that they will make back the upfront costs with interest income over time. If you are not in the home for long, the lender may actually lose money by refinancing your home. You may also lose money if your refinance is not a no cost refinance and you sell immediately after. By paying closing costs for a lower rate with the refinance, it is unlikely you will be in the loan long enough to break even from the costs of refinancing with lower monthly payments. Best of luck!
You can refinance, and then sell whenever you want. But if you plan on selling shortly, why bother with a refinance? Seems like something is missing here. What are you trying to achieve?
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