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Have you checked out HSH's new Home Value Tracker? See what's happening with home values in more than 400 metro areas!

Have you checked out HSH's new Home Value Tracker? See what's happening with home values in more than 400 metro areas!

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.

Ask the expert
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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