Can I refinance my fha mortgage to lower the interest rate even though I am recently unemployed?

Posted on Aug 14, 2012 in FHA Information

Question by George Big: Can I refinance my fha mortgage to lower the interest rate even though I am recently unemployed?
Credit history is excellent, cost for sale no missed payments of any kind.

Best answer:

Answer by Iffy
NO unless you have private income that meets the 3 times rule

What do you think? Answer below!

4avg.rating 29 votes.

4 Comments

  1. ~~No, you have to qualify for the loan and with no income you aren’t going to qualify.

    You can contact your mortgage company and see if they will give you a temporary modification until you find a job again.~~

  2. You can’t refinance ANYTHING without a current income. The ONLY way this would be possible is if you have the CASH to pay off the entire mortgage. If that is the case, you are better off paying off the mortgage than refinancing.

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