filling out applicaton for refi..but no longer working
Don't work....just live off inheritance...Don't receiving income....am trying to refi mortgage balance $108,988.23 because payments just ballooned....am a widow...husband left me $700,500, from his pension in Nov, 2019... want to know if I have to be gainfully employed or receiving some type of regular income to qualify?... thank you by wingedcherub960 from Bethel, Alaska. Mar 13th 2020
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
The law requires lenders prove, document, and verify sufficient income for the person to safely afford the house payment. There are asset based programs where they take the money in the bank and divide it, usually by either 10-years or 15-years, and use that number as qualifying income. So for example that balance divided by 15-years is $3800 a month. If you qualify on that, you should be fine. I lend only in MN WI IA SD ND. I can be found at JoeMetzler.com. NMLS 274132
Baris Evans (barisevans)
#19 ranked lender in Ohio - 23 contributions
Contact me on this line +13129850786
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