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Do You Need a Cashout Refinance? If you are in need of cash and would like to refinance your property to pull out some of your equity, there are many loan options for you. Some of the loans available will allow you to pull out up to 95% of the value of your home. Below are a few of the loan options available. 1.) FHA is an excellent choice if you are looking for cashout above 80% LTV. FHA will go up to 95% LTV cashout in many areas. Please click here to see the guidelines for this program. Please feel free to contact us by email or call us at 818-920-1600 to discuss your credit scenario. 2.) If you have equity in your home and do not need more than an 80% LTV cashout loan, then a conventional program would be the best option. When your LTV is less than 80% LTV, then PMI is not required. PMI is Private Mortgage Insurance. Any loan to values over 80%, the lender will usually require PMI. By having a loan to value that is less than 80%, this will save you on your monthly payment. 3.) If you do not need cashout and your current mortgage is an FHA loan, then a streamline refinance may be for you. A streamline refinance will allow you to refinance your current mortgage without all of the documentation needed on a cashout refinance. To learn more about the streamline refinance, click here.
If you would like to apply for a new loan, please click here. If you would like to discuss your own personal situation, please E-mail us or call 818-920-1600. Return to Home Page
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