June 11, 2012
A reader asks, “Can you explain the 95% LTV cash out refinance? When I talk with lenders they all say 85% is the maximum LTV for a cash out refinance. Thank you.”
One official document published by the FHA, called the FHA Refinance Programs Comparison Matrix states under the heading Eligible Loan Types for an FHA Cash-Out refinancing loan at 95% LTV, ” FHA or conventional loan that is seasoned at least 12 months with last 12 payments made within the month due.
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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