Will a refinance hurt my chances of getting my next mortgage?

Q: I have mortgages on a rental property and the home I occupy.  I would like to refinance the mortgage on the home I occupy.  However, I will be moving across country in the next couple of months and plan to buy a third property.  Will refinancing on my home now hurt me in applying for a third mortgage?

A: To the extent that the refinance improves your fiscal situation, it may actually be a benefit to make the change. However, it would be best to have the refinance transaction completed before you start on a new purchase transaction, just to help keep your credit files and paperwork from changing in the middle of both.

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Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
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