Can you refinance your mortgage after living in a condo for only two years?

Question by daisymae: Can you refinance your mortgage after living in a condo for only two years?
I suspect my son has an ARM and has one more year to refinance before the interest rate changes. Is there normally a penalty involved if he refinances before the adjustable rates kick in?

Best answer:

Answer by Joey Bagadonuts
Daisy….I refinanced my mortgage (a fixed rate mortgage) twice in the first 4 years….and yes…get a fixed rate ASAP.

I’m not sure about any penalties for early refinancing of ARM’s. I’ve heard that some do and some don’t. He has to check his mortgage paperwork.

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