The maximum limits are the same as for 2012. fha loan limits for high cost areas are higher than conventional loan limits. fha loans are a popular choice, especially for buyers with low credit scores.
· The cash-out refinance is back. With mortgage rates low and home values rising, homeowners reason and opportunity to cash out their real estate holdings.
· Max loan limits: For FHA cash-out refinance loans, there is a limit of 85% LTV, which means that you can borrow up to 85% of the home’s current value. Approval guidelines: To be eligible to refinance, you must have at least 15% equity in your property, according to a current appraisal.