how long should you wait to refinance a home
Paying off your mortgage faster via a cash-in refinance is a smart way to build equity while potentially securing a lower rate. If you have an FHA loan, though, you must wait at least 6 months before refinancing with the FHA streamline program.
You probably wont even have THAT loan long enough for you to recoup the money that you paid upfront! It would take more than 5 years for you to recoup the difference. 90% of homeowners refinance within the first 5 years. What I see mostly of, however, is 2 to 3 years! At least 1% lower would be good to refi to.