FHA changed their guidelines on a cash-out refinance by lowering the loan to value to 80% from 85%. This goes into effect on September 1, 2019 so we still have a small window of time if you are considering this option. Contact me or PM me to discuss.
Related Article Title: FHA Mortgagee Letter 2019-11, Maximum Loan-To-Value and Combined Loan-To-Value Percentages for Cash-out Refinance Mortgages – Dated August 1, 2019 Written by: Tracey Rumsey, Staff Writer Big changes for FHA originators as FHA evaluates the programs that are causing their insurance fund the most problems. If you originate FHA loans, this is a [...]