Cash Out Refinance on Personal Residence - Highest LTV allowed??

[Grant Berthold]

I'm considering doing a cash out refi on my personal residence, and I'm wondering what the highest loan to value banks allow. Also, would a new appraisal be done? My market has seen decent appreciation recently, and I've done quite a few upgrades on the home. Has anyone had any experience with this recently?

Thanks!

Grant

[Upen Patel]

@Grant Berthold As this is your primary residence, you can get up to 85% LTV on a cash-out refi. Of course you will have MI.

Do keep in mind, higher the LTV higher the rate.