FHA Cash-Out Refinance
Tap your home equity up to 80% LTV with an FHA cash-out refinance.
How it works
FHA cash-out lets you borrow up to 80% of your home's appraised value, requires 12 months of ownership and on-time payments, and resets your MIP with a new full underwrite.
Key things to know
- Minimum 3.5% down with a 580+ credit score (10% down for 500-579).
- Loan amounts are capped by your county FHA limit — $541,287 floor up to $1,249,125 in high-cost areas.
- FHA mortgage insurance applies; budget the 1.75% upfront premium plus annual MIP.
- The home must be your primary residence and meet FHA's minimum property standards.
Program rules are set by HUD and updated periodically. Join the free notification program to hear about changes to the FHA Cash-Out Refinance first.
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Frequently Asked Questions
- What is the FHA Cash-Out Refinance?
- FHA cash-out lets you borrow up to 80% of your home's appraised value, requires 12 months of ownership and on-time payments, and resets your MIP with a new full underwrite.
- What credit score and down payment are required?
- Like other FHA loans, 580+ qualifies for 3.5% down; 500-579 requires 10% down.