Why the wait to refinance?

[Tolu Bankole]

Why do I have to wait for 6/7 months before I can refinance a home?

[Joe Splitrock]

Originally posted by @Tolu Bankole:

Why do I have to wait for 6/7 months before I can refinance a home?

 Some of it has to do with underwriting rules. Another reason is that generally the goal of refinance is to get higher appraisal value. Appraisals use comparable sales within the last 6 months. Your property sale would come up as a comparable property for valuation. Appraisers are generally unwilling to assign higher value beyond proven rehab expenses over short periods of time. Bottom line, you don't have to wait in all cases. A better answer is that it depends on all your details.