Question by Vindaloo99: Possible to refinance mortgage with no job but high equity and extra cash for partial payoff?
I have 50% equity in my house, cash to reduce the loan amount even further, but no job at the moment. Do I have any chance of refinancing at “preferred” rates?
Best answer:
Answer by wizjp
MY understanding of the current loan policy is without an active source of income or employment, no reputable lender CAN make you a loan.
Add your own answer in the comments!
Unfortunately no. It is of primary importance to any lender that the borrower have a method if paying back the funds. they really do not want to have to take possession of the property.