Can I still Refinance If I’m Self Employed? I have an Option ARM mortgage and am afriad of rising rates!?
I JUST started my own business and bought a new house and between the two I’m kinda broke. Started the business about 6 months ago and I’ve been moved in here now for about 12 weeks now. I keep hearing that the mortgage companies that made stated income loans are all going out of business. I got a smart choice mortgage and a line of credit thinking it would be good for the ups and downs of business, but I keep seeing on CNBC that ates are going up. Not feeling like it was too smart of a choice right now. Will I be OK? Can I refinance in a year or two or will all the mortgage companies that work with small business folks be gone by then? My credit scores were 623, 702, and 667 3 months ago