Can I refinance with a score of 735 with little cash on hand

Credit score alone will not qualify you for a refinance of a home loan. Other things to consider is debt-to-income ratio, loan-to-value and of course the home loan product that will serve your best interest. Reach out to a local mortgage professional who can educate you on the details of a home loan refinance, as well as give you guidance on which home loan product would be advantageous for your specific needs.

Your question doesn't give anyone enough information to make any sort of appropriate answer for your individual situation. Your credit score is good, and generally speaking, lenders refinance people with no out-of-pocket costs all the time. Your credit card balance doesn't mean much. I suggest you get off the internet, walk into a local non-bank lender, give them a full application, and let a licensed and trained loan officer review your individual situation. Learn how to tell if your loan officer is licensed at http://tinyurl.com/7kra3nx

hi: may I ask what your loan amt and value of estimated home is? I have different investors to work with...Do you have any savings, cd's, mutual funds etc if I may ask? Please give me a call or email to discuss. Mike (mconvin@emeryfs.com or 703 505 5300) MNLS# 754875

When refinancing, there are a few other things we look at as lenders - If you have any equity? If not, is your mortgage held by Fannie Mae or Freddie Mac? If so, you may qualify for a Harp 2.0 program where you can owe more than your home is worth.... If you have an FHA or VA Loan, you can do a streamline refinance without an appraisal (or consideration of equity). While having great credit is a plus...your income - ability to repay is also a factor. If you have any questions, just let me know :) Thanks!

Refinance programs vary depending on the type of loan product you have.. if you have FHA, VA, USDA, then you don't need any cash.. You can refinance and have the lender pay all your costs and fees, and no reserves are required... If you have a Conventional loan, then you can refinance however you will need to show you have enough cash in reserves to pay 2 full payments, so when you say you have little cash on hand, the question is how little?? Having a 735 credit score is great, however there are other factors that are taken into consideration when determining the eligibility of a borrower.. best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders... the LOCAL broker is familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

You are probably asking about a Conventional Fannie Mae 30 yr fixed type of loan.These are the best priced loans with no mortgage insurance premiums.They want to see at least 2 months P.I.T.I. (Principal, Interest, Taxes, and Insurance) in the bank and "Seasoned".They calculate the property tax bill and the fire insurance bill as if it were to billed monthly, and they add that to the mortgage payment. You have to have at least 2 months of that monthly P.I.T.I in the bank.Now, It is typically required to show all pages of the last two months of bank statements. in order to qualify. If the money has not been sitting in some institution for the last 2 months bank statements, you are outside Fannie Mae's guidelines.The lenders will accept $ that is in a retirement acct. toward this "Seasoned Assets requirement". In the case of Retirement Savings like 401K or IRA accounts the lenders will give you credit for about 65% of your account balance. This is one way to meet the "Assets" requirement. So, if you have $10,000 in an IRA account, that is like having $6,500 in the bank. Even if your regular bank account is low, you can qualify this way.Also Stocks and Mutual funds and any type of brokerage account that you may have can also be used for the Assets requirement.A good Loan agent will see if you have any assets that can be used to qualify. Otherwise, you may need to place the $ in your account and allow it to sit there for over 2 and then no questions will be asked. Patience is a virtue, especially in the lending world. JeddNabonsal@gmail.com Mortgage Broker Los Angeles Cell:310-433-1703