Can I refinance after a layoff?

For most layoff clients, the answer is no — at least not through a conventional lender. Standard conventional refinances require: - 30 days of recent pay stubs - 2 years of W-2s or tax returns - Verifiable employment at funding

If you've been laid off, you typically don't qualify until you've been re-employed for 30+ days (sometimes longer in the same field).

That said, a few alternatives may exist depending on your situation: - Asset-based lenders: A small number of lenders qualify you based on liquid assets (typically requiring 12-24 months of mortgage payments in reserves) rather than current income. Rates are usually higher. - Spouse's income: If your spouse is employed and willing to be on the loan, their income may qualify you. - Streamline refis (FHA/VA): If your current loan is FHA or VA, streamline refinances have looser income documentation. Worth asking your lender. - Bank statement loans: For self-employed borrowers, some lenders qualify based on 12-24 months of bank statements rather than tax returns.

Roger works with several East Bay lenders he can refer you to for an honest read on whether any of these paths work for your situation.

This is a starting point, not the complete answer. Real estate decisions depend on details that don't fit in an FAQ — your numbers, your timeline, your family situation. Call (510) 504-0402 during the day, text or call (406) 205-9003 anytime, or email roger@grubb.net. I'll walk you through it personally.