We all know that it is possible to refinance through FHA. What we’d like to know is if a cash-out refinance is allowed. Is it possible to turn a part of your equity into cash through FHA refinance? There are two types of FHA Refinance: through (1) FHA Streamline Refinance, and through (2) FHA Cash-out Refinance. So, the answer is a definite yes. FHA Streamline Refinance is HUD’s way to make refinancing quicker by waiving off certain documentation requirements. This program helps decrease the … [Read more...]
FHA Refinancing: Has Your Property Recently Been Listed On The MLS
One of the common questions we get from time to time is: If my property has recently been listed for sale, can I still do an FHA streamline refinance? Here are some of the guidelines that you might expect to hear from your lender: Rate/term refinance must be off the market 30 days or more before the date of the loan application. Cash-out transactions for recently listed properties require 180 days off market before the loan application can be executed. Click Here For the Latest Rate … [Read more...]