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FHA Cash-Out Refinance, 95% LTV and 85% LTV Rules

The biggest thing to come out of this is the dis-allowance of non-occupant co-borrowers. They WERE previously allowed on 85% LTV cash-outs. This upsets me terribly, but realistically, hardly anybody knew you could do them to begin with. (See related handbook: FHA & VA Streamlined Refinance Handbook)

Cash-Out Refi Changes & Clarifications
(Mortgagee Letter 2008-13, May 7, 2008)

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