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Rental refi

Profile picture for illiniguy1
Started new job after 6 months out of work. Will a 200K refi with 33% equity and 200k in assets, 800 credit, 7500/month gross income, 1850/month rent, get approved?
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December 05 2011 - Naperville
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Answers (2)

Profile picture for funds2
Is your new job in the same line of work and $7,500 gross income salary?  You may be able to count rent if reported on last years (12 months) tax return Schedule E.
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0Yes

December 06 2011
Profile picture for Courtesy Mortgage
Yes, it should.    You might get asked for letter of explanation for employment gap, and you will need to supply a paystub from the new job that shows at least 30 days or YTD income.  
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December 05 2011
 

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QuestionRental refi
  • Latest answer by wayne lancaster
  • December 06 2011
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