The FHA cash-out refinancing option is especially beneficial to homeowners whose property has increased in market value since the home was purchased.

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July 30, 2014
30 Year Fixed
3.95% Rate
3.96% APR
15 Year Fixed
3.0% Rate
3.29% APR

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FHA Cash-Out Refinance

Learn About Your Mortgage Options

Homeowners enjoy the benefits of investing in their property year after year. For some, there comes a time when that investment can come in handy. Refinancing with an FHA loan can prove to be an effective way to put that equity to work. If you own a home you still owe mortgage payments on, chances are you're examining your refinancing options. In today's economy everyone needs a way to lower monthly payments and make housing more affordable. The FHA has a variety of refinancing option, including the cash-out refinance loan.

FHA Refinancing With a Cash-Out Loan

In order to get the most benefit from refinancing your mortgage, it is often best to consider refinancing after you have had time to build up a significant amount of equity in your home. If the property was purchased more than one year prior to the refinance, the homeowner can refinance the existing mortgage for up to 85 percent of the appraised value plus the allowable closing costs, which vary from state to state.

While economic news fluctuates back and forth between good and bad news, HUD and the FHA aren't taking any chances with the current housing market. According to a 2009 memo from the Department of Housing and Urban Development, the FHA is changing the rules for FHA cash-out refinancing due in part to "...the continued deterioration in the housing market, and FHA's need to limit its exposure to undue risk".

FHA Loan Articles

Read About Mortgage News, FHA Updates, and Guidelines
FHA Refinance Loan Basics

Are you thinking about refinancing your home loan with an FHA loan? There are several options available, and depending on the circumstances you may qualify for an FHA Streamline Refinance or an FHA Cash-Out refinance loan.

FHA Streamline Loan Seasoning Periods

There is a required wait time between the date when the borrower begins making mortgage loan payments on the home and the day the borrower becomes eligible to apply for FHA Streamline Refinancing on that mortgage.

How Long are the Terms for FHA Mortgages?

If you're applying for a first-time FHA home loan, you're likely wondering how long your mortgage will be and what kinds of options you might have for shorter or longer loans, early payoff or what happens if you just pay the monthly mortgage minimum.

Lower Interest and Mortgage Payments: Streamline Refinance

In the last part of 2012 and the early parts of 2013, mortgage loan interest rates have been reported at lows not seen in many years, causing many FHA borrowers to think about refinancing an existing FHA home loan.

FHA Mortgage Insurance Premium Guidance

Early in 2012, the FHA and HUD issued some guidance in the form of Mortgagee Letter 2012-4, including news of a decrease to the annual Mortgage Insurance Premium for certain Streamline Refinance transactions.