Kind of interesting, did not know this was even an option and wanted to share it on BP in case can help any other investors. The program goal is to prevent people from being locked in and to get housing supply moving, the program gives you 10s of thousands bonus to refi a lower rate mortgage. One of my clients last month did it and it actually worked, the loan closed and they received $41,000 extra off their principle while doing a standard conventional cash out refi. This was not some portfolio product, they had a standard conventional owner occupant mortgage previously and did the cash out refi into another conventional mortgage on a 3 unit property in Humboldt Park. Cool stuff for those trying to use cash out refis to scale, this is their 2nd property to do a cash out refi in the same neighborhood and we are currently working on their 3rd deal in the area. Love the north side of Humboldt Park rapid gentrification.

Here is the article on the program and my actual client is the one the article is written about.... https://www.businesswire.com/news/home/20260421090274/en/Gre...