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refinancing investment p roperty

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Icon Mini Profile mscluso





Joined: 23 Mar 2010

Posts: 1

1.27 Dollars($)
Post Posted: Tue Mar 23, 2010 9:35 pm    Post subject: refinancing investment p roperty
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I own rental prop in Round Rock, balance on loan $70,000 value property 158,000 interest 7.25, want to refinance strickly for lower rate, low credit score is 735, self employed caan't prove income cuz mostly paid cash, what can ido? I live in ca
Icon Mini Profile sara
sara
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Joined: 05 Jul 2006

Posts: 2694
Location: New Brunswick, New Jersey
496.42 Dollars($)
Post Posted: Thu Mar 25, 2010 3:11 am    Post subject:
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Hi mscluso,

The lender will want your employment history in order to approve you for a refinance. If you cannot provide the lender with your pay stubs or any related documents, I don't think you would be able to get a refinance. You can take the help of a cosigner who has a stable financial history and try to refinance your home loan.

Take care.

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