The fresh new refund is just readily available for 3 years after the brand-new loan closes

Regardless if rates of interest will get drop within a month or one or two shortly after a borrower features signed another type of FHA mortgage, you will find a seasoning period. The rules believe that

  • The borrowed funds signed at least 210 months ago
  • Very first percentage appeared owed half a year back, (otherwise stretched)
  • You have made the initial six money promptly into home loan

Listed here is a good example to manufacture sense of the principles. Continue reading “The fresh new refund is just readily available for 3 years after the brand-new loan closes”