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

Posted on Feb 6, 2024 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!

4 Comments

  1. debijs August 14, 2012

    ~~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. STEVEN F August 14, 2012

    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.

  3. Ann Wilson August 16, 2012

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  4. Jeffrey Russell August 17, 2012

    Thanks for this post. I have a hard time finding good content related to this subject when searching most of the time.