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what are the income requirements for a refi? Is there acertain amount of income that I need ?

I have a mortgage of $130,000. I own 2 houses on same property. Would like to refi with $120,000 cash-out. Ventura,CA.93001
  • May 04 2009 - US
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Answers (6)

I have a direct lender with access to unique product and programs and NO CLOSING COST loans on certain transactions for properties in CA. Please let me know if you are still interested
516-459-3738.
  • October 03 2013
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Contact me, I have a mortgage broker I have done a lot of work with and he is wonderful and licensed in CA as well. I could direct you to him and he could go over details with you.
  • August 26 2013
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now,  my mom who is a Senior wants to do the re-fi., with no fees. she still owes $120,000 on her property. she has a good score, but her income is low. At this time she pays: $900./mom. on a 6% Mortgage, no PMI. no points. she would like to pay only $600./mon for a lower Rate. but i'm not sure she can re-fi because she only receives S.S. & she also rents out one of her houses (on the same property) her property is worth around $280,000. Can she still do the re-fi if she is low income? she's always paid her Mortgage on time. And what is the Appraiser looking for on a re-fi?
  • August 26 2013
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Depending on your score and equity you can be approved at a higher debt to income ratio.Rates are in the 4's on a 30 yr fixed rate mortgage.Give me a call and we will make it work for you.Robert
914-490-5928
  • May 04 2009
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The current guidelines are 45% debt to income ratio. With good fico scores and sufficient value of your home. Scott 925-838-6805
  • May 04 2009
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You can refinance with cash-out as long as you do not exceed a debt ratioo of 45%
We can run the numbers for you if you wish. Rates are all beow 5%, an excellent time to consider refinancing.We are a FHA Broker.
Empire Mortgage
(916) 632-8392
  • May 04 2009
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