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In this market. Is it possible to refiance bsed on a high credit score-811-and not on stated income.

I currently have a mortgage at 6.75 and would like to refiance at a lower rate. What companies are available who can base their decision on credit history and credit score but not stated income?
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December 18 2008 - Boston
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Answers (3)

I currently have a mortgage at 6.75 and would like to refiance at a lower rate. What companies are available who can base their decision on credit history and credit score but not stated income?
Great credit scores but that alone does not dictate payment capacity.
That is one of the things that the credit report can not have is your income, so a lender has to use other methods to make a loan determination.
Do you own your own business? or are you a w-2 employee?
Do you have 2006 and 2007 tax statements?
Lenders use credit scores, income, payment record, and other items to make a determination of lending.
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December 18 2008
Marshall, why are you not able to document your income?
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December 18 2008
A stream line refinance is the only thing I know that may help you out.  This program goes off of the good payment history, but has to be FHA loan.
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December 18 2008
 
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