The FHA cash-out refinance allows you to tap into your home’s equity and open a loan of up to 85% of your property’s value. Refinance proceeds go to you, and can be used for any purpose – paying off student loans, buying a car, or doing home improvements.
An FHA cash-out loan is generally easier to be approved for than a standard conventional cash out loan so if you have less-than-perfect credit but need funds, an FHA cash-out may be the option for you.
The FHA cash-out program is different than the FHA streamline, in that an appraisal is required, so you have to have adequate equity in your home. Also, general loan documentation such as paystubs and bank statements will be required.
Call one of our FHA cash out professionals at 1-888-896-6255 or complete a quick form to check interest rates and see if you qualify.