FHA Cash Out Refinance
FHA World - FHA Cash Out Refinance
- Home Improvements
- Bill Consolidation (and mortgage if second is less than 1 year old)
- Large Purchases
- Schooling
- Vacation
- Investment(s)
- Cash
You do not have to have an existing FHA loan in order to do a cash-out refinance. You may use the cash out refinance for 1-4 unit properties.
What documentation will I need?
- W2's for the past 2 years
- Current pay stubs for the past month
- Bank statements for last 2 months for each active account with sufficient reserves (all pages)
- Latest retirement statement for each active account (all pages)
- Residence addresses for past 2 years (if your at your current address for less than 2 years)
- Recent mortgage statement (s)
- Homeowners declaration page
- Clear copy of Driver’s License
- Clear copy of SS card
- Addresses and loan information of other real estate owned (if any)
- Personal tax returns for the past 2 years, current income statement & balance sheet for business (self-employed only)
Call us 888-958-5382
www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.
We look forward to working with you.
FHA Credit Score needed to buy
a house or refinance
FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%
FHA requires a minimum credit score of 500 to buy a home or refinance
Bankruptcy
Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date
Foreclosure
Foreclosure must have been resolved for at least 3 years
Government loan: Seasoning is determined by the date the claim was paid
Loans other than Government: Seasoning is determined by the date of sale the lender sold the property
Short Sale
FHA guidelines requires three year past from the date of sale of the property
What documentation will I need?
- W2's or Personal tax returns for 2 years
- Current pay stubs for the past month
- Bank statements for last 2 months (all pages)
- Clear copy of Driver’s License (front and back)
- Clear copy of SS card (front and back)
Call Now, Our Staff is Available
888-958-4228
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