Are there income requirements for refinancing? I want to do a cash out refi

As a general rule, yes. Most all lenders require proof in sufficient income to service your existing payments, including your new mortgage payment. Depending on your circumstances, ability to repay requirements can require much lower income requirements. For example, refinancing an FHA loan using the FHA streamline process does not require the verification of income. VA has a similar feature. Reverse Mortgages, do not have a monthly mortgage payment requirement, so less income would be needed to qualify, There are also Asset depletion Mortgages where the lender looks to ability of a borrower to liquidate assets to provide funds to meet payment obligations. Hopefully this helps answer your question. Feel free to reach out with additional questions, or if we can help you with your refinancing needs. We are licensed in Texas and can help you.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300.

For most refinance loans, yes, we will look at income and debt ratios for qualifying. But if you have an existing FHA or VA loan, there are options for a 'streamline' refinance, where we do NOT review current income. Contact a local mortgage broker serving your state, tell them what you have going on, and they will direct you to your options. I lend in Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota. I can be reached at JoeMetzler.com - Cambria Mortgage, NMLS 274132