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How Do I Negotiate a Mortgage Refinance If I've Lost My Job?

how to negotiate a refinance

What Lenders Want

Mortgage lenders prefer working with borrowers who have worked for the same employer for at least two years. They also prefer working with borrowers who have a steady, full-time job. This doesn't mean, though, that lenders aren't willing to make exceptions. They might, if you can convince them that you're a low risk to default on your new mortgage payments even though you've lost your job.


One way to ease the concerns of mortgage lenders is to prove to them that you still have enough monthly income to cover your mortgage payments even without your job. You can cite any recurring source of funds as income when applying for a refinance. This includes monthly rental income from tenants, any fees you

receive from legal settlements, alimony payments, the regular paychecks from a spouse or partner whose name is also on your mortgage, royalties and disability payments.

Debt-to-Income Ratios

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