Whether you need money to consolidate high interest credit card debt, pay for college tuition, buy a new car, or make home improvements to your home, we can find a way to get you the cash you need through a refinance. The FHA’s Cash-Out refinance loan gives qualified FHA homeowners the opportunity to refinance their current loan into a lower rate while extracting cash from the home’s equity.

A FHA refinance transaction involves repayment of your current real estate debt from the proceeds of your new FHA mortgage that has the same borrower(s) using the same property. This is called a “Cash Out” Refinance.

Cash-Out Refinances are used for homes that are used as a principal residence by its owner. That owner can refinance for up to 90% of the appraised value (Not available in Texas) plus all closing costs if the property can withstand the designated loan to value ratio. There is no minimum amount of time that you must own your home, yet your home must have sufficient equity to qualify for the loan.