cash out refi

Hello.Streamline FHA financing doee not allow for ANY cash out. The new loan amount is your principal balance plus interest owed up to the payoff date. Closing costs can only be rolled into the new loan if you have an appraisal done. Streamlines are nice if you are not changing the term of the loan and do not want income or appraisal to be considered. If you took out your current loan prior to May, 2009, you would not pay up front MIP and you would pay the same monthly amount you pay now. You may want to consider looking into a 15 year with no monthly MIP, as well.Hope this helps.A normal FHA or Conventional refi will allow for cash out up to 85% of the appraised value.

FHA has a maximum Loan to Value of 85%, and you will pay an additional 1.75% upfront MI premium as well as a monthly MI premium... if there is a 2nd they will have to subordinate, and the maximum will still be 85% CLTV... You must occupy this home and it has to be your primary residence. 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. 480-287-5714 WilliamAcres.com

FHA will allow for a maximum base loan amount of 85% of the appraised value. You will need to have a new FHA appraisal done, and standard FHA underwriting criteria applies. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

The max loan to value on a FHA refinance is 85% of the homes value. Streamline refinancing does not allow for cashout.

Most lenders will not go above 85% LTV on a cash out. Streamline Refinances do not allow for any cash out.

Hello, The max cash out that is allowed for an FHA or convention loan is 85% of the appraisal value. The FHA streamline is meant for just rate/term refinance and MOST lenders will allow waiving the appraisal and income documentation which makes it very easy to qualify thus calling the loan a "streamline".