Posted on: 25th Apr, 2009 05:45 am
I am current on my mortgage and never late. I have good credit with score in low 700. I want to refi for lower rate and maybe a bit cash out. However last year my income fell dramatically and it is hard to refi due to my income. This year my income is getting better. I do have some savings and debt free.
id be glad to see what your rate would be currently 4.875%
don terry
248 224 7244
don terry
248 224 7244
Pending your income can support your debts, you may qualify for a rate in the 4's. The key is obviously your income, so your best bet would be to contact a local lender you feel comfortable with to start a no cost, no obligation, pre-qualification. I hope this helps...
call yoru current lender and tell him your situation with the change in the income and they may probably work with you to lower the interest.
especially for people who have lost thier income or lowered their income due to job situation, goverment has come up with programs and bank are ready to refinance. you may be able to get in the range of 4 -5%
try it first before anythign else.
lot of discussion about that on this forum.
especially for people who have lost thier income or lowered their income due to job situation, goverment has come up with programs and bank are ready to refinance. you may be able to get in the range of 4 -5%
try it first before anythign else.
lot of discussion about that on this forum.