FHA 'Get Cash
Out' Refinance Guidelines
Housing Administration (FHA) has evolved
to fit the ever-changing needs of borrowers since
its beginning in 1934. More lenient on credit guidelines
than conventional lenders, FHA-insured loans have
helped millions of families to refinance those mortgages
to decrease their interest rates and monthly payments,
and to pull cash out for personal reasons.
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, whatever.
FHA Cash Out mortgage, you refinance
your home for more than you owe, and 'pocket the
Cash-out refinances closed after
April 1, 2015, are limited to
85 percent of the property's LTV.
An FHA Cash
refers to the refinancing of a loan where a home
owner can borrow money on the equity in their home.
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 Loan Information
The FHA does not lend money. The
FHA (Federal Housing Administration) is part
of HUD & backs individual Approved Lenders.
We are not affiliated with the Federal Housing Administration,
the Department of Housing and Urban Development, or
any other government agency. We are an FHA Educational
Our responsibility is to help you
find the best FHA Approved Lender who can help
you secure home financing.
When you fill in our short application
we will provide your information to one, (and
only one!) FHA Approved Lender
who can help you based upon many factors, including
your Credit Score, your State Location,
and the Type of Loan you apply for