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.Let's Talk FHA Cash-Out Refinance
Find Out More
Interested in a FHA Cash-Out refinance loan? Submit your information.
American Neighborhood Mortgage Acceptance Company, LLC dba AnnieMac Home Mortgage ("Company," "We," or "Us") seeks your consent to contact you with certain non-emergency, automated, autodialed, prerecorded, or other informational and telemarketing phone calls or text messages under the Telephone Consumer Protection Act (“TCPA”). By selecting "Submit," you are providing your electronic signature and thereby authorize Us, our service providers, and/or our affiliates to contact you and any joint applicant at the home phone and/or mobile number listed above, and you agree such contact may be made using an automatic telephone dialing system (ATDS) or artificial prerecorded voice. Further, by selecting "Submit," you acknowledge and agree that: you are not required to grant your consent as a condition of buying any property, goods, or services; you may revoke your consent at any time by calling (888) 636-1335 or by emailing Privacy_OptOut@annie-mac.com; Message and data rates may apply.