Exact Answer: 120-180 Days
Money is one of the most important tools for conducting our daily business. Similarly, without money people cannot live in today’s market. Money is what money does whether the money has been lent from someone or it is the income of a person.
The world runs by this method of borrowing and lending because it is not possible for each and everyone to earn enough money. If you want to lower your monthly payments or expenditure then refinance is a smart decision because you can reduce the loan duration, or building home equity more quickly.

How Long After Buying A House Can I Refinance?
Refinance after buying a house | 4-6 months |
Benefits of refinance | Reduction of monthly payments and more |
It would normally take about 4-6 months for most lenders to not refinance a mortgage that has been issued within that period. However, once the period of 120-180 days is over you can start looking for a new lender or a mortgage service provider.
There are several benefits of taking the decision of refinancing. Buying a new house is also a great decision but you have to maintain other needs too like paying other kinds of fees. You need some time and you need to save some money at the end of the month.
Refinance means replacing your current home loan with a brand new one. Now, you must be thinking if your recent home loan is a decent one then why should you take a new one? Well, there are benefits of refinancing.
With the help of refinancing you can reduce monthly payments and that too with a lower interest rate and with a longer-term. There is a chance that you could pay off your mortgage faster by shortening the terms. You can also improve your credit rating which will help you for other purposes.
It will be easier to get rid of PMI (Private mortgage insurance) that comes with your original loan. You could also add or remove someone from the new loan in case you have been married or divorced recently.
Why Does It Take That Long To Refinance?
Time take is about 4-6 months because that is quite normal for most lenders. However, the program which you select could depend on most of the things. Some can happen sooner than you can think but some could take more time than usual.
If you are looking for a particular loan or you have some penalties on you then those are some factors that could affect the overall time. In some cases, it would be a great choice to refinance because you could save big. But, it might seem quite foolish to refinance soon you have gone through the whole process and have paid the closing costs on the original mortgage.
Some of the lenders today will make you wait for a few months before you refinance with the same company. However, this does not mean you will not be able to get another refinance from another company. There are certain rules of mortgage and time frames that you should know about.
You must make sure that you have a good credit score because that will help you get good credit support. Take out your mortgage as soon as possible because that will help your credit score to improve. If you apply for a refinance soon after your credit report pings then that situation could affect your eligibility for getting the loan.
Make sure that the time is right for getting the refinancing loan sanctioned. Make sure you have proper plans before applying for it.
Conclusion
In the end, you decide whether you want to refinance after buying a new house or not. There are certain points and rules that you need to know before making any kind of decision. If you think you don’t need a refinance then it is better not to go for it.
But, looking at the benefits of a refinance then you can surely look for companies issuing a refinance option. Buying a new house is difficult during these times where the economy is being affected. Seek help from people if necessary and then decide if you want to refinance or not.
References
- https://papers.ssrn.com/sol3/papers.cfm?abstract_id=874821
- https://onlinelibrary.wiley.com/doi/abs/10.1111/1540-6229.12104

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