Current on your mortgage payments
You have an acceptable credit history
Your home's loan-to-value ratio is a maximum 85 percent
Interest rates are near historic lows right now. But what if you acquired your home mortgage when rates were considerably higher? If you've built up home equity and are still making mortgage or interest payments, you may qualify for an FHA cash-out refinance loan.
This is how it works: When you refinance your home, you can substantially reduce your monthly payments and tap the cash from your home's market value - with no restrictions on how you spend your money. You could pay college tuition, take a vacation, buy a new car, or wisely consolidate your debts.
Interest rates won't stay this low forever, so let's get started right away. As a Licensed Loan Officer at Summit Funding Inc., an amazing team of top industry professionals back me. We take pride in providing personalized service and fast turnarounds. Together we can secure your FHA cash-out refinance loan in an efficient and timely manner.