Cash-out refi and FHA loan limits

4 Replies

Will a cash out refi count towards the limit of FHA loans I can get?. I have one FHA loan and 3 cash out refi commercial loans. After my 12 months is up I am looking to apply for another owner occupancy FHA loan. Thank you

Originally posted by @Robert Barnes :

Will a cash out refi count towards the limit of FHA loans I can get?. I have one FHA loan and 3 cash out refi commercial loans. After my 12 months is up I am looking to apply for another owner occupancy FHA loan. Thank you

 It is a loan regardless of if you refi or do a cash out refi.  It will show on your credit as 1 tradeline.  

You can only have 1 FHA loan at a time unless you have a qualified life event and 15% equity in the property

Brie Schmidt, Real Estate Agent in Illinois (#471.018287) and Wisconsin (#57846-90)

@Brie Schmidt Thank you.  I hope to but 3.5% down on a duplex in August and I've heard that your only allowed so many mortgages. When I apply in August that will technically be my second loan. However I do have a few cash out refi's.

Refinances are mortgages and count towards the total. You say that you have commercial loans. Are they true commercial loans or conforming loans on commercial properties?
(267) 520-0454

I have a package of single family house cashed out in the commercial loan department with my credit union. 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.