Refi with lower income...
Hello. I am looking to refinance my loan but I make less money than when I initially purchased my home. Is this going to be an issue? by bennebeats459 from North Richland Hills, Wyoming. Jul 12th 2018
Ray Antonelli (Focused)
#68 ranked lender in Ohio - 66 contributions
It depends. What is your credit like?You need 2 things to refi.Good credit and enough monthly income.If your monthly income has dropped but your expenses have gone down too then you should be OK.Also why do you want to refi?Every situation is different. Call me for details.
Henry Daniels (HenryJDanielsNationalMortgage)
#11 ranked lender in Texas - 145 contributions
Not Necessarily if you are are just refinancing the existing loan and not taking cash out then a Streamline Refinance may be available and income is not generally checked with that. it depends on what your current loan type is. Feel free to contact me and we can discuss the specifics of your situation and see if a streamline finance would meet your needs.
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