What Are My Best Options To Refinance My Mortgage?

If you’ve gotten a new mortgage this past year, you might be considering refinancing. How long do you need to wait to refinance? Do you need to wait any time at all? 

The type of loan you have influences whether or not you can quickly refinance your home loan in Los Angeles. If you have a conventional mortgage or some types of government-backed loans, you may be able to immediately refinance, with one exception: the majority of cash-out refinances ask that owners be in the home for at least 12 months.

Can I Refinance My Mortgage Immediately?

In some cases, yes. Some lenders do allow owners to refinance their mortgage immediately after they take out a mortgage. This is an unusual situation, but it does happen.

FHA Loans And Refinancing

Some FHA loans do allow borrowers to refinance immediately. If you are refinancing from one FHA loan rate to another, this is a “simple refinance.” There’s no FHA requirement to wait to refinance in this case as long as you are not taking cash out. However, some lenders may ask borrowers to wait six months before a simple refinance. In this case, mortgage experts say you can apply to refinance with another company.

FHA streamline refinances don’t require appraisals, but you do have to have the mortgage for at least 210 days and made at least six monthly payments. This type of refinance allows borrowers to have one late payment. 

However, here’s a tip about monthly payments: some FHA mortgages and many others require on-time mortgage payments, for at least six months and at times, up to 12 months before you apply.

Other Government-Backed Loans And Refinancing

If you have a VA loan and want to refinance, you need to wait six months or at least 210 days after you made your first mortgage payment. There are more complex rules for USDA-backed loans, but in general, you need to have made on-time payments for at least 180 days before refinancing.

Jumbo Loan Refinancing Requirements Vary From Lender to Lender

Jumbo loans are non-conforming mortgages, and therefore have rules that are specific to each lender. If you have a jumbo mortgage, this is one reason why it’s important to work with an experienced mortgage loan broker like California Platinum Loans. The same is true if you have a VA loan, an FHA loan, or a conventional home loan. 

There are many reasons to want to refinance a mortgage, and working with experts who have access to many different lenders can guide you in the direction of your best options and opportunities. Fill out the quick, easy refinance questionnaire to learn more today.


Lewis, Holden and Kate Wood. “How Soon Can You Refinance A Mortgage? Here are the Rules,” Nerdwallet, 4 August 2023, url: https://www.nerdwallet.com/article/mortgages/how-soon-can-you-refinance-mortgage

Martin, Erik J. “How Soon Can I Refinance My House? Here Are The Rules,” The Mortgage Reports, 13 July 2023, url: https://themortgagereports.com/54100/how-soon-can-i-refinance-after-i-close-on-my-mortgage