Before you can refinance, your current loan usually has to “season” for a set time. The wait depends on your loan type and whether you’re just changing the rate or pulling cash out. Here’s the lay of the land - Brian will confirm exactly what applies to you.
account_balanceConventional
Rate & TermNoneif you pay off your existing first mortgage
Cash-Out6 monthsof ownership before you apply
verified_userFHA
Rate & Term6 months210 days + 6 on-time payments
Cash-Out12 months12 consecutive on-time payments
military_techVA
Rate & Term~6 months210 days or 6 payments (IRRRL)
Cash-Out~6 months210 days since the last loan closed
apartmentDSCR / Investment
Rate & Term0–6 monthsvaries by the loan investor
Cash-Out6 monthsto use the new appraised value
General guidance only - seasoning rules change and vary by lender and investor overlays. Brian will confirm what applies to your situation.
