Refinancing can sometimes be done almost immediately, but in other cases you must wait several months to a year, depending on the type of loan and the kind of refinance you want. The exact timing also depends on your lender’s rules and whether your current loan has any prepayment penalties.
Key factors
Lenders and loan programs often have “seasoning” rules, which are minimum time or payment-history requirements before you can refinance. Many conventional mortgages allow refinancing after about 30 days for a standard rate‑and‑term refinance, while cash‑out refinances more often require around 6–12 months of ownership.
Government‑backed loans usually have longer minimum waits. For example, FHA and VA streamline or cash‑out refinances commonly require about 6–12 months and a record of on‑time payments before you are eligible.
Typical timelines by loan type
- Conventional mortgage: often eligible to refinance in as little as 30 days for rate‑and‑term; cash‑out usually requires about 6–12 months.
- FHA mortgage: streamline options often require around 210 days (about 7 months) and six on‑time payments; cash‑out usually requires at least 12 months.
- VA mortgage: common rules require at least about 210 days or six on‑time payments, whichever is longer.
If you meant refinancing something else (like a car loan, student loan, or personal loan), reply with the loan type and rough details, and the timing can be narrowed down more precisely.