How Soon Can You Refinance
The wait depends on the loan and the type of refinance. FHA and VA streamlines need about 210 days, while cash-out usually means six to 12 months.
Waiting periods by loan type
Each item below is a rule of at least one loan program we offer. Your current loan and your goal decide which one applies.
- Fannie Mae cash-out: at least one borrower on title for six months.
- Fannie Mae cash-out: the first mortgage being paid off at least 12 months old.
- FHA cash-out: owned and lived in as your main home for 12 months.
- FHA streamline: 210 days since closing and six full months since the first payment due date.
- VA streamline: first payment due at least 210 days before the new note date, with on-time payments on that loan.
- USDA streamline: existing loan closed at least 180 days before the lender requests USDA’s conditional commitment.
Cash-out after six months
FHA cash-out needs a year
Streamline timing rules
Inherited homes skip six months
Bought with cash
LLC time can count
Refinance Waiting Periods Explained
Rules on how long you must own the home, or how old your current loan must be, before you refinance.
For a Fannie Mae cash-out refinance, at least one borrower must have been on title for six months, and the first mortgage being paid off must be at least 12 months old. If you inherited the home or were legally awarded it, the six-month title rule does not apply, though any first mortgage being paid off must still be at least 12 months old.
FHA cash-out is for a main home you have owned and lived in for the 12 months before the case number is assigned. FHA streamline refinances need 210 days since the closing of the loan being refinanced and six full months since its first payment due date. Bought with cash in the last six months? See our delayed financing page.
A VA streamline refinance needs the first payment due date on the current loan to be at least 210 days before the new note date, along with on-time payments on that loan. A USDA streamline refinance needs the existing loan to have closed at least 180 days before the lender requests USDA’s conditional commitment. At least one non-QM program needs six months since the last transaction before a cash-out refinance.
Why choose Saxton when you want to refinance soon
For homeowners who want to know the earliest date they can refinance before they apply.
Cash-Out After Six Months
Fannie Mae cash-out needs at least one borrower on title for six months, and the first mortgage being paid off must be at least 12 months old.
FHA Cash-Out Needs A Year
FHA cash-out is only for a main home you have owned and lived in for the 12 months before the case number is assigned.
Streamline Timing Rules
FHA streamlines need 210 days since closing and six full months since the first payment due date. VA streamlines need the first payment due at least 210 days before the new note date.
Inherited Homes Skip Six Months
If you inherited the home or were legally awarded it, the six-month title rule does not apply on a Fannie Mae cash-out, though any first mortgage being paid off must still be at least 12 months old.
Bought With Cash
If you paid cash in an arm’s-length purchase in the last six months with no mortgage financing, a Fannie Mae cash-out refinance may still be possible under delayed financing.
LLC Time Can Count
Time the home was held in an LLC you majority-own or control can count toward Fannie Mae’s six months, once the home is moved into your name. At least one non-QM program needs six months since the last transaction before a cash-out.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about how soon you can refinance.
On a Fannie Mae loan, once at least one borrower has been on title for six months and the first mortgage being paid off is at least 12 months old. FHA needs 12 months of owning and living in the home.
An FHA streamline refinance needs 210 days since the closing of the loan being refinanced and six full months since its first payment due date. An FHA cash-out needs 12 months of owning and living in the home.
A VA streamline refinance needs the first payment due date on the current loan to be at least 210 days before the new note date, along with on-time payments on that loan.
A USDA streamline refinance needs the existing loan to have closed at least 180 days before the lender requests USDA’s conditional commitment.
Not for the six-month title rule on a Fannie Mae cash-out refinance. Any first mortgage being paid off must still be at least 12 months old.
On a Fannie Mae cash-out refinance, the listing must be taken off the market on or before the disbursement date of the new loan.
If you paid cash in an arm’s-length purchase in the last six months with no mortgage financing, delayed financing may allow a Fannie Mae cash-out refinance. At least one non-QM program needs six months since the last transaction before a cash-out.
Find out what you qualify for
Tell us when you bought or last refinanced and what you want to do, and we will show you the earliest date that works.
Get Pre-Qualified- Consumer Financial Protection Bureau, mortgages
- Consumer Financial Protection Bureau, buying a house: tools and resources for homebuyers
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.