What is the time period can I refinance an FHA loan without paying closing cost again?

Posted on Jul 3, 2023 in FHA Information

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Château de Fléville (France – Lorraine – 54)
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Château de Fléville (France – Lorraine – 54)
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Image by michellefouineur
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A lot more fantastic houses click here…
Question by Tim: What is the time period can I refinance an FHA loan without paying closing cost again?
I am a first time buyer, adiposity financing an FHA loan today. Thank you so much.

Best answer:

Answer by Steve D
You always pay a closing cost – that is something you can’t avoid. If you refinance within a short period of time, sometimes you can avoid the appraisal fee, but you will always have to pay the document prep fees, the recordation fees, etc.

Know better? Leave your own answer in the comments!

2 Comments

  1. Closing fees can not be avoided. People do not work for free. This is how the people that handle your loan get paid, through the fees they charge for the closing of your mortgage loan.

    Now if you are speaking of a no fee, no points loans, even that type mortgage cost in the sense that the lender raise your interest rate to cover these normal expenses.

    Make sure that each method is explained to you by your, mortgage consultant, so you might make an intelligent decision about which you should select.

    I hope this has been of some use to you, good luck.

    “FIGHT ON”

  2. if you just closing today, why are you asking about refinancing already – there is no way you get any better rate than what you are getting now. If it is higher than the best rates out there, there is a reason for it – your credit score or amount of down payment or something else and those factors are not going to change in 6 months ro even a year probably enough to be able to get you a lower rate and then you will still have to pay refinancing charges,s o it would make no sense – it would probably takes years to recoup the refi chgs with the little amount (if any) lower payments you would get by refinancing a year from now – rates may go up by then and you might not be able to save anything – If you are trying to reduce the payment you are getting right from the start, then maybe you can’t afford the house to begin with