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Some Questions on Refinancing

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NJGrl4Now
LIF Infant

Member since 1/10

263 total posts

Name:
Blank

Some Questions on Refinancing

I'm sorry if these were asked before but my husband and I are looking into this option and I'm a little curious about some details:

1) Is refinancing looked down upon at all by lenders or does it hurt your credit score in any way?

2) Is there a limit on how many times you can refinance on a home/different homes within a certain time frame?

We are in a condo now and have a decent mortgage rate but are thinking of refinancing to get it a bit lower which would give us an extra $250 for at least 4 more years to save (that's after considering the time it would take to recover from closing costs). I just want to make sure it's in our best interest to do this now and not at a later time when we may need it more (if there is a limit on how many times you can do this whether if it's on the same home or a different home and if it hurts our credit at all, which I don't think it does just talking out loud Chat Icon )

I really appreciate any help you can offer, thanks so much!!!

Posted 11/17/11 11:22 AM
 
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VickiC
Rocking the party

Member since 5/05

4937 total posts

Name:
Vicki

Re: Some Questions on Refinancing

Refinancing is not looked down upon and it does not hurt your credit. You can refinance as many times as you want as long as it makes sense to do so and you will recoup your costs before moving again.

Posted 11/17/11 2:25 PM
 
 

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