Skip to main content

Refinance while furloughed?

Hello everyone, first time poster here so please let me know if I'm leaving anything out.

I've owned my current home for 5.5 years, 30 yr conventional mortgage with 4.25% interest rate. No PMI. I currently owe $119,000 on the mortgage and house is estimated at $275k-$300k. I'm in Arizona.

I've seen how low the interest rates have gotten and I'm really interested in refinancing to try and get a lower rate, but I was furloughed from work in March and I'm unsure if I will return to the same job. I've started looking around for other positions. I'm curious if any lender would consider refinancing for someone who is currently unemployed. I have about $30,000 liquid cash and a credit score of around 800 depending which bureau is reporting.

Am I stupid for thinking this is possible? I don't really know anything about this stuff so just looking for an opinion as to whether or not this would be worth it.

Thanks!

submitted by /u/atypicala
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/i0c9i2/refinance_while_furloughed/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

Looking for Prospective Opportunities to Utilize Floor Plan Redraw Skills

"Hey HomeOwners & Investors , I have a team of 10 professionals who are trained in redrawing/redesign floor plans in both 2D and 3D interior& exterior using floorplanner.com/3ds Max and TruView point cloud. We're looking for prospective opportunities to utilize our skills. Are there any companies or individuals in need of accurate floor plans and measurement reports ? Any suggestions for where to start looking? Thanks in advance for your help!" submitted by /u/mangojuicelife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/119uoh0/looking_for_prospective_opportunities_to_utilize/