I have a quick question about refinancing an FHA loan. Is there a way to refinance an FHA loan and take money out, like you could with a conventional loan?
It seems like you only can refinance an FHA loan if you want to get a lower interest rate on your mortgage or shorten the life of the loan.
If there's a way to refinance an FHA loan and take money out, I'd like to know. Any light you all can shine on this would be great. Thanks!
@Andrew Walker You can cash out under FHA up to 85%LTV but due to COVID-19 the lenders could have overlays.
Thanks for your reply @Harjeet Bhatti. Are there any qualifications that has to be met in order to get that process going with the lender?
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