FHA Cash-Out Refinance Loans

Unlocking Equity with Flexible Credit Standards

The FHA Cash-Out Refinance

What are FHA cash-out refinance loans?

An FHA cash-out refinance lets homeowners replace any existing mortgage—FHA, conventional, VA, or a free-and-clear title—with a new FHA-insured loan that is up to 80 % of the home’s current value. The new loan pays off the old balance and returns the difference, after closing costs, to the borrower as usable cash.

Benefits of a FHA Cash-Out Refinance

Disclaimer: By refinancing your existing loan, your total finance charges may be higher over the life of the loan.

Frequent Questions Regarding FHA Cash-Out Refinance

How is my maximum cash amount calculated? Multiply your appraised value by 80%; subtract your current payoff, financed MIP, and closing costs. The remainder is your net cash at closing.
Will I need a full appraisal? Yes. Unlike an FHA Streamline, all cash-out refinances require a standard FHA appraisal to verify value and property condition.
Does the new loan restart my FHA mortgage-insurance clock? Yes. You’ll pay the upfront MIP again and the annual MIP for the life of the loan if your new LTV exceeds 90%.
Can I combine a cash-out with refinancing into a shorter term? Absolutely. Many borrowers choose 15- or 20-year terms to access equity while still paying off the loan sooner.

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