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Refinancing your mortgage may give you the option to take cash out, which can be used for any purpose.
Read MoreBoth FHA and VA loan programs offer cash-out refinance options. Learn more at the links below:
Read MoreKeep in mind that refinancing isn’t free. Just like your original mortgage, you’ll have to pay closing costs—typically 3% to 6% of your new loan principal,
Read MoreThe Federal Housing Administration (FHA) provides various mortgage options designed for borrowers who may have difficulty qualifying for traditional loans.
Read MoreThere are no restrictions on how you use the funds from an FHA cash-out refinance. Homeowners commonly cash out equity for:
Read MoreAlthough FHA cash-out refinance rates are often lower than conventional alternatives, mortgage insurance premiums (MIP) can increase your total borrowing costs.
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