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