Possible to refinance with a job?

Discussion in 'Loans & Mortgage Brokers' started by BalloonTree, 26th Feb, 2020.

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  1. BalloonTree

    BalloonTree Well-Known Member

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    Is it possible to refinance without a job?
     
  2. Peter_Tersteeg

    Peter_Tersteeg Well-Known Member Business Member

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    You need income to qualify for a loan.

    So unless you earn other types of income in sufficient amounts, you're not going to be able to refinance.
     
  3. David R Sutantyo

    David R Sutantyo Active Member

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    It's not a job if you do what you love and get paid ;)
     
  4. sumterrence

    sumterrence Well-Known Member

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    If it is a joint loan and your partner has sufficient income to support the loan than yea its doable. If all applicants are out of job than no it is impossible.
     
  5. Lindsay_W

    Lindsay_W Well-Known Member

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    As others have said above.
    What's the reason you want to refinance?
    If it's just for a lower rate you could try to get a better discount from your current lender, fixed rates are another option to consider. You can do either of those two options without refinancing.