Can a 30 year fixed, 10-15 IO loan be refinanced and how soon?
You can refinance it whenever you want. The only item that you need to be aware of is whether or not you have a pre-payment penalty. There should be something in your closing paperwork explaining whether or not you have one. This may be reason to wait a specified period of time, depending on how much this penalty would be if you pay off your loan early.
Source(s):
http://www.gofirstsecurity.com/refinance... (refinance information)
Sure it can be refinanced. It all depends on your credit rating. How soon (how quickly?) is not something we can answer.
Yes it can be refinanced, as soon as you would like. But if you got a 30 yr fixed IO loan, the only reason you would want to refinance is if the rate was really high or current interest rates drop drastically. 30 yr fixed loans are used for just that 30 years.
|
