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Updated almost 7 years ago on . Most recent reply

User Stats

7
Posts
1
Votes
Theresa Allison
  • Investor
  • Springville, CA
1
Votes |
7
Posts

No doc cash out refi's still available?

Theresa Allison
  • Investor
  • Springville, CA
Posted

As self employed folks, we generally end up with no doc type loans. We'd like to do a no doc cash out refi on our personal residence but we haven't dealt with brokers since before the big financial meltdown so I'm not sure what the process for a no doc looks like in todays climate.  Our house appraises for between $750k - $900k depending on the appraiser (yes, it's that varied right now) and we have a mortgage of $167k that we'd like to refi plus $50k for debt payoff, etc.

Can anyone share what that process might look like and how doable this is right now?

TIA

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