People Can Get Through FHA Cash-Out Refinancing
The Trump administration is reducing how much home equity mortgage borrowers can withdraw through cash-out refinances.
Starting Sept. 1, the Federal Housing Administration will limit the loan amounts for cash-out refinancings to 80% of the home’s value or less. Previously, borrowers could take out up to 85% of the property’s equity.
The new loan amount limit is in line with the limits already in place at Fannie Mae and Freddie Mac.
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