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FHA Cash-Out Refinance

Take advantage of the equity you’ve already built. The FHA cash-out refinance lets you refinance up to 80% of your home’s value and cash out the difference. If you need to pay off a debt or complete a home renovation, this may be the pick for you.
Get your Refi Rate Quote

What is a Cash-Out Refinance

This is the only FHA option that allows borrowers to get cashback from a refinance.  Borrowers get a larger loan amount than their current mortgage amount and get cash for the difference between the new loan amount and the amount owed on the home.

This loan is dictated by FHA guidelines but can vary by lender. Borrowers must have at least 20% equity in their homes and they must be the borrower’s primary residence. Borrowers must also be current on their mortgage payments for at least 12 months before qualifying for a refinance. Since the refinance loan amount is based on the home’s value, a new appraisal is required.

Start Your Cash-Out Refinance

Step 1 of 6

Do It Yourself Mortgage Analysis

Current Mortgage


Refinance Mortgage

What fees come with an FHA cash-out refinance?

There is an upfront mortgage insurance premium expected at closing, out-of-pocket. FHA loans also have a monthly mortgage insurance payment that is bundled with your mortgage payment. FHA loans will always require insurance payments. 

Do I have to be an FHA customer to qualify for an FHA cash-out refinance?

Nope. Conventional borrowers maybe apply for an FHA cash-out refinance. 

What is the maximum LTV (loan-to-value) ratio with an FHA cash-out refinance?

The maximum refinance loan amount is 80% of your home’s value. You cannot owe more than 80% of the home’s current value to qualify for a refinance. 

Further Reading