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FHA-Insured Program

FHA Cash-Out Refinance

Access Up to 80% of Your Home's Value

80% LTV Maximum

Borrow up to 80% of your home's current appraised value

Flexible Credit

Minimum 580 credit score with more lenient requirements

No Usage Restrictions

Use cash for any purpose - debt, improvements, investments

Understanding FHA Cash-Out Refinance

An FHA cash-out refinance is a powerful financial tool that allows homeowners to tap into their home equity while potentially securing better loan terms. Unlike traditional refinancing that simply replaces your existing mortgage, a cash-out refinance provides you with a lump sum of cash that can be used for virtually any purpose.

The Federal Housing Administration (FHA) backs these loans, making them more accessible to borrowers who might not qualify for conventional cash-out refinancing. With credit score requirements starting at just 580 and the ability to borrow up to 80% of your home's value, FHA cash-out refinances offer flexibility that many homeowners find attractive.

Bergen County FHA Loan Limits (2025)

The FHA loan limit for Bergen County is $835,300 for single-family homes. This high-cost area limit allows you to access substantial equity through cash-out refinancing.

Key Benefits of FHA Cash-Out Refinance

Access up to 80% of your home's appraised value
Minimum credit score of 580 (lower than conventional)
Competitive interest rates backed by FHA
No restrictions on cash usage
Consolidate multiple mortgages into one
Potentially lower your interest rate
Fixed-rate options for predictable payments
Streamlined documentation requirements

Basic Requirements

Credit Score

Minimum 580 credit score for maximum cash-out (500-579 may qualify with restrictions)

Loan-to-Value (LTV)

Maximum 80% LTV ratio - borrow up to 80% of your home's current value

Occupancy

Must be your primary residence for at least 12 months

Payment History

On-time mortgage payments for the past 12 months

Debt-to-Income

Generally 43% DTI or lower, though exceptions may apply

Popular Uses for Your Cash

Home Improvements

Renovate, upgrade, or expand your home to increase its value

Debt Consolidation

Pay off high-interest credit cards and personal loans

Investment Property

Use equity to purchase rental or investment properties

Education Expenses

Fund college tuition or professional development

Emergency Fund

Build financial security with a cash reserve

Business Investment

Start or expand your business venture

Ready to Access Your Home Equity?

Calculate your potential cash-out amount or get a personalized quote from our FHA specialists.

Frequently Asked Questions

Learn More

FHA Guidelines

Complete program guidelines

Documentation

Required documents checklist

Cash-Out Uses

Smart ways to use your equity

Terms subject to credit approval and property appraisal. Actual loan amounts and cash available depend on creditworthiness, property value, and other factors. FHA cash-out refinance loans are subject to FHA loan limits. Not all borrowers will qualify. NMLS #1577754 | Equal Housing Lender