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Updated about 4 years ago,

User Stats

33
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5
Votes
Sam Stabler
5
Votes |
33
Posts

Buying New Home immediately after Refinancing?

Sam Stabler
Posted

So I'm caught in a bad spot..

After 2 years of owning our 2 bedroom, 1 bath SFR home, I finally decided to refinance so I can greatly reduce my rate. Previously, my rate was 4.375% and new lender is offering 2.875%. Im at the final stages of the loan approval with signing due sometime late next week. However, during the past year, me and my wife have been searching for a new home since we need an extra bedroom with new baby. We found a home we absolutely fell in love with which is much larger but I wanted to know if I do end up purchasing the new house, would it be possible to get qualified for a loan on the new purchase??? I keep reading that you have to wait a few months after u refinance in order to purchase a new home and I'm