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Updated 3 months ago on . Most recent reply

Shak F.'s profile image
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Shak F.
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  • from Charlotte, NC
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Shak F.
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  • from Charlotte, NC
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Shak F.
  • Investor
  • Charlotte, NC
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Mortgage Brokers & Lenders

30 year Mortgage

Shak F.
  • Investor
  • Charlotte, NC
Posted

I took mortgage on my single family investment property about 13 months ago. Is it possible to refinance in such short time?

Charlotte, North Carolina
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Jay Hurst
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Jay Hurst
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Jay Hurst
  • Lender
  • Dallas, TX
Replied
Quote from @Shak F.:

I took mortgage on my single family investment property about 13 months ago. Is it possible to refinance in such short time?


what type of loan did you get? If it was a conventional loan, you would NOT have a pre-payment penalty and there is no waiting period to refi to lower your rate. if you took out a DSCR loan it would depend what pre-payment penalty you accepted for that loan.

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