when will a be able to refinance my home?

[Karen H]

I just purchased my home. I did a 100% finance with a fixed 30 year interest rate. I dont have any penalties on my loan. Do you think I will be able to refinance within six months or a year with a 100% finance loan?

[Business Mom]

geeze...soounds like you got a sweeet deal...why do ya want to refi so soon.you can try in six months but remember your property value will have probably dropped by then (with the way the market is going) - while your loan remains constant...so good luckgood luck

[wanting baby3]

What is the reason for the refinance? You did 100% financing so it will take time to gain equity to have additional funds drawn, if that is what you are thinking. If it is for a lower interest rate you can refinance at any time, assuming the value of your home does not decrease. You need to take into consideration that you probably just paid closing costs to purchase your home and when you refinance you will have those same costs again, so it may cost you more to refinance than it would to continue paying the same interest rate over a period of time.

[BlogDawg]

I doubt it. Most refi is a 1 year minimum and in this market I bet you are still close to a 100% loan. Good luck.