Posted on: 03rd Dec, 2013 12:59 am
Will it be possible for me to go for cash out refinance at 85% loan to value ratio?
As far as I know, you will be able to go for an 85% cash out loan on a conforming Fannie Mae Loan of around $417,000. But you will have to opt for private mortgage refinance (PMI).
Hi Guest,
Yes, in case of 85% LTV ratio, you will require a Private Mortgage Insurance (PMI). This might increase the overall cost of the loan.
Yes, in case of 85% LTV ratio, you will require a Private Mortgage Insurance (PMI). This might increase the overall cost of the loan.
FHA and conventional mortgages allow cash out to 85% of the appraised value of the home.
