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Can you refinance mortgage after forbearance?
Borrowers can refinance after a forbearance, but only if they continue to make their mortgage payments on time after the forbearance period has ended. You can begin the refinancing process once you have finished your forbearance and made the necessary number of on-time payments.
How long do you have to wait to refinance after a forbearance?
In general, after you’ve finished your forbearance plan, you might be qualified to refinance or buy a house in 3 to 6 months.
Do I have to wait 3 months after forbearance to refinance?
To apply for a refinance with Fannie Mae or Freddie Mac, borrowers must make at least three consecutive on-time payments. The entire loan balance (including any missed payments) can then be refinanced into a new loan.
Do you have to pay back forbearance before refinancing?
This past year, forbearance proved to be a temporary solution that is forgiving, but it is not a loan forgiveness. You must exit forbearance and make three consecutive payments on a conventional mortgage that is insured by Fannie Mae or Freddie Mac before you can refinance.