Asked by James  |  Submitted June 01, 2019

I plan to refinance my rental property and cash out some of the accumulated equity. How long after my refinance can I sell the property?

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  Answers  |  1

June 03, 2019

Usually you can sell the property at any time, no matter how recently you refinanced. There are some exceptions, however, depending on your loan agreement. Some lenders may require you to sign an owner-occupancy disclosure that requires you to live in the home for a certain length of time from the date of your refinance. Also check your mortgage note or deed to see if there is a prepayment penalty on your loan. This is a fee you'll have to pay the lender in exchange for paying off your loan early. The maximum period for a prepayment penalty is three years.

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