+1 vote
asked Mar 4 in Refinancing by anonymous

2 Answers

0 votes
Best answer
For conforming (Fannie Mae and Freddie Mac) loans, you cannot do a cash-out refinance when paying off a land contract. Other programs offered by portfolio lenders may allow it.
answered Nov 23 by GinaPogol (45,150 points)
0 votes
You can do a cash-out refinance on FHA LOANS, VA HOME LOANS AND CONVENTIONAL LOANS.  85% LTV on cash-out FHA LOANS, 80% on CONVENTIONAL LOANS and 100% on VA LOANS.

Gustan Cho NMLS 873293
Branch Manager
USA MORTGAGE NMLS 227262
A Division of DAS ACQUISITION COMPANY NMLS 227262
The Gustan Cho Team at USA MORTGAGE
gcho@usa-mortgage.com
Website www.gustancho.com
answered Mar 5 by GustanCho (106,540 points)
487 questions
644 answers
884 users