Will she qualify

[sjlcjl]

Looking for posilities of a refi for a friend...  No cash out, just shorter term and lower payment.

Current is 30 year at 6.125%

Here is the situation...

• She has plenty of equity in the house.  Should be better than 50% equity.
• She works from home (daycare) and has verifiable income from tax returns.
• She also gets child support and will continue to get it for alteast another 7 years.  (It is court ordered)
• She has no idea of credit score.  (no lates, no CO, no judgements, only one credit card)  I estimate it to be in the upper 600's
• She has no other debt than the mortgage
• She currently has a 30 year fixed at 6.125 that started in 2003 with a remaining balance of $75,000
• Including child support and her income from daycare she has an income of ~$30,000 a year. ($1500 child support, $1500 daycare per month)
• Has ~$25,000 in savings/roth account. 
• Primary residence, single-family house

Trying to get her to get her credit score right now.  So hopefully I can update that soon.

Hicups I see are the income from child support/income....

Thanks for your thoughts!

[JM-AM]

If the child support income is documented, she should not have a big problem. This is assuming her daycare business is also reported and paying taxes on for at least the last few years.