Can I refinance a home equity loan if I've only had it a couple of months?

Problem, we recently had our home up for sale, but have since changed our mind. We applied for a small home equity loan through our local bank (17,000)so my husband could buy a car and we could pay off a couple of bills. In the meantime, a larger mortgage co that we also inquired with about this loan told us that they could consolidate all of our debt, and save us $600 every month even if we doubled our payment. So, we went with the larger co, however after going through the whole process with them , they came back and said that since our home was recently on the market, we would have to wait 60 more days to get a loan. (this would be 100% equity LTV) My question is, if we go with the smaller loan from our local bank (who doesn't give 100% LTV loans), could we in fact get a home equity loan a few months down the road, pay off the 17000 loan and also pay off the rest of our debt? Is there some rule about how long after you receive a home equity loan before applying for another

Can I refinance a home equity loan if I've only had it a couple of months?

Yes, you can do that. However,

You will have to pay closing costs twice.

There is often a prepayment penalty on Home Equity loans if they are closed in less than 2 or 3 years.

the higher LTV loan will likely have a higher interest rate.

Take both of those into account before you make your decision

Can I refinance a home equity loan if I've only had it a couple of months?

Feel free to contact me, If you send me an email I can give you a number to call me and I would be more than happy to look and this situation and also, (i'm wondering what state you're in), then i can definitely assess this situation and see what we can do for you.

Can I refinance a home equity loan if I've only had it a couple of months?

For all your mortgage questions

Try

http://www.platinumquestmortgage.com

or

http://www.mortgagerefinancingatlowrate....

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