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Cash Back Refinance

Get a low rate for cash back refinance loans when working with the online team at FMRL. Borrowers can get cash back when refinancing their home up to 95% loan to value. Get cash back for home improvements or debt consolidation. Cash refinance solutions are available to applicants who have enough equity and meet the other FHA requirements for receiving money back in the loan.

FHA Home Refinancing on the Rise
Government-insured home loans in July soared to 29.1% of all home loan applications, up from 8.4% just 12 months earlier, reports the Mortgage Bankers Association (MBA). Some the reasons they cite for the increase are:

  • The Economic Stimulus Act of 2008 temporarily raised the Federal Housing Administration (FHA) and conforming loan limits for most areas in the country to a maximum cap of $725,000, which broadened FHA financing for more borrowers. The passage of the Housing and Economic Recovery Act of 2008 in July 2008 made higher loan limits permanent. They'll cap at $625,000 as of January 1, 2009.
  • Data from the U.S. Department of Housing and Urban Development (HUD) show that the level of conventional to FHA refinance applications increased 317% on a year over year basis in July, the bulk of which is likely from subprime adjustable rate mortgage (ARM) products.
  • FHA loans typically have lower down payment requirements than those of Fannie Mae and Freddie Mac. The maximum loan to value ratio for FHA loans is 97% and 95% and 80% for the Government Sponsored Enterprises (GSEs).
  • Conventional GSE loans have tighter credit score requirements than FHA loans. Conventional loans require a score of at least 660 for someone putting 20% down on a loan and at least 700 if the borrower doesn't have 20% equity.



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FHA mortgage rates displayed are subject to change available loan information can provided by the mortgage lenders directly after application is submitted for further underwriting review. The FHA Mortgage Refinance Loan Company is not directly affiliated with any government agency. We provide an online marketplace for consumers searching for FHA loans and HUD resources. We are affiliated with HUD approved FHA mortgage lenders. If you would like to contact HUD directly please visit their website online.