All Forum Posts by: Charlie Castor

We will be closing escrow on the new house soon and we need to rent out our current home. I'd prefer not to manage the property myself and I'm wondering if anyone who owns in the San Jose area uses a property manager they can recommend.

I am in contract right now to buy a house and my chosen lender is Wells Fargo. I have locked in the rate with them, and they've given me two options, both 30-year fixed:

3.375% (3.42 APR) OR 3.5% (3.5 APR) with 0.5% credit.

The 3.375 is great but the hangup here is that we would like to refinance the house in May, when we will be able to take other income into consideration and hopefully be able to get some money out of the house, as we are currently putting down 40%, the minimum allowed by the bank. We would like to get back about half of that, which we would qualify for with the refinance.

Has anyone refinanced soon after purchasing? Would Wells Fargo be okay with this?