A roadmap for lowering your rate, adjusting terms, or accessing home equity in the current market.

I. When Can You Refinance? (Seasoning Rules)

Fannie Mae and Freddie Mac enforce waiting periods, known as “seasoning,” to ensure loan stability. While conforming limits have risen to $832,750 for 2026, the primary seasoning rules remain consistent.

Cash-Out Refinance

12-Month Rule: Current mortgage must be at least 12 months old.
Title Requirement: One borrower must be on the title for at least 6 months.

Exception: Delayed Financing

Paid 100% Cash? You can bypass the 12-month wait and pull equity back within 6 months of purchase.

Arm’s-length transaction (no family sales).
Sourced funds (HELOC or assets; no gifts).

Refinance Readiness Checklist:

Before starting your application, verify your 2026 Seasoning Eligibility or explore our full Guide to Cash-Out Refinancing to ensure you maximize your home’s equity.

Rate-and-Term (Limited Cash-Out)

No 12-month seasoning required. If you aren’t pulling cash, you can often refinance in as little as 6 months. View our Overland Park Mortgage Rates to see current pricing.

II. The 30-Day Refinance Roadmap

Once eligible, a well-prepared refinance typically closes in 30 days. Here is the week-by-week breakdown:

Phase	Duration	Key Milestones
1. Application	Days 1–3	Submit W-2s, Paystubs; lock your rate.
2. Processing	Days 4–14	Title search & Employment verification.
3. Appraisal	Days 10–20	Home valuation (Waivers are common in 2026).
4. Underwriting	Days 15–25	Final risk review & Conditional approval.
5. Closing	Days 27–30	Signing and 3-Day Right of Rescission.

III. Closing & The 3-Day Right of Rescission

For primary residences, federal law grants a 3-day cooling-off period after you sign your documents.

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Day 30: Signing Date.

Days 31–33: Rescission Period (Funds are held).

Day 34+: Loan funds and cash-out disbursed.