FHA 'Get Cash Out' Refinance Guidelines
With an FHA Cash Out mortgage,
you refinance your home for more than you owe, and 'pocket the
Most people have some money tied up in the equity of their home. To get
access to this money you can refinance your home for actually more money
than you currently owe on your home – this is called "cash
This is a great way of consolidating debt, finance home improvements or
pay for college. Or make an investment, take a vacation, buy a new car,
An FHA Cash Out Mortgage
refers to the refinancing of a loan where a home owner can borrow money
on the equity in their home. By 'cashing
on some of your homes equity , you can obtain cash on the value of your
own home to pay off debts, upcoming expenses or any reason you wish.
This refinance can usually provide you with a better
mortgage interest rate that will save on your monthly mortgage payments
during the loan.
And it's all tax-deductible!
FHA Cash-Out Refinance Loan may appear similar to an equity loan,
it is actually quite different. An equity loan is an additional loan.
With a cash-out refinance mortgage, you are actually replacing
your existing mortgage with a new (and quite often better) one.
FHA Licensed Lenders
Following are just a few of the FHA approved lending institutions we use when determining the best type of lender to match your loan scenario in a location convenient to you.