Can i do an fha cashout refi with a 703 credit score?

FHA allows for cashout up to 85% of your homes value. There must be other reasons for the denial with that high of a credit score. Talk to a local FHA lender and see what you qualify for.

Your score is fine... But credit score alone does NOT make a mortgage approval. We look at lots of other things too. FHA cash out is allowed up to 85% of today's appraised value... www.StPaul-Mortgage.com

FHA does a maximum of 85% loan to value.. Example: $200k home, $80K Balance, = $90K maximum cash out, with new loan of $170K. Credit scores are important, but it's not the only thing a lender looks at when determining one's eligibility.. Income, credit history, credit longevity, debt, credit deficiencies, property use, property type (condo, MFH, SFH), etc.. all are evaluated when your file is submitted to underwriting.. having a good credit score is no guarantee for an approval. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Hey there, I'm a local Arizona lender and I'd be happy to discuss this with you if you want to reach out to me at 480-368-7715. If you are otherwise qualified, 703 is just fine for an FHA cash out refi. There was likely something else going on with your family member's loan that caused the denial. I'd certainly be happy to discuss it with them as well if they are still wishing to cash out.