FHA Refinancing Advice Needed
(Novato, CA USA)
Ask Kate: FHA refinancing advice As customers of our major mortgage lender for 15 years, we want to refinance possibly with FHA. Our goal is to access some of our equity.
What type of documentation will FHA require? Honestly, we need to borrow against our equity to meet current expenses since we are self-employed and can only document social security income at the moment.
Do we have a prayer of qualifying? Without a cash-out refinance, we will be in trouble next month meeting our current mortgage payment.
Kate Answers: FHA Refinancing Advice Needed
Hi MV, Even if I could give you specific refinancing advice, I do not have enough details. Instead I recommend two things. Improve your luck and qualify your lender.
1- Here is a checklist of paperwork commonly required by lenders for refinancing and home buying. I call it The Mortgage Planner
. The mortgage checklist is helpful in getting your ducks in a row. It certainly improves your luck.
2- What if you could learn how to compare mortgage rates
and lenders online? Finding the right person to advise and qualify you would be the second step I recommend.
I hope you'll come back to my website again in the future. Of course, all of my information is free.
So remember to bookmark Get-Your-Best-Mortgage-Rate.com
to your favorites and visit often for up to date tips for buying a house, mortgage news and refinancing advice.
You can also invite friends to comment on this page or create a page of their own like you did.
P.S. Go to my Best Mortgage Rate Blog
, an entertaining source of mortgage information. Subscribe now to the RSS feed.
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