Eugene Loan Guy

Posts Tagged ‘FHA Cash Out Refinancing’

Have you read the 5 secrets to getting an Oregon FHA mortgage loan for home ownership published by HUD? There’s a secret out there about FHA mortgage loans that HUD wants you to know about. It’s so secret, that they published an informational brochure but didn’t tell anyone about it. Read More

The following was released today about the maximum loan to value on an FHA cash out refinance. A cash out refinance is done when more than the balance of the mortgage and closing costs are included in the new loan amount. This could be in the form of cash to the borrower or payment of secondary liens against the property or the payment of any other borrower indebtness. This is a change from the current 95% maximum loan to value for a cash out refinance. Borrowers have until March 31 to start their application if they would like to receive more than 85% loan to value. Read More