Cash Back Refinancing Guidelines Easing!
With the continued improvement in the housing market, Conventional Mortgages are now allowing cash back to the borrower on refinances up to 85% Loan to Value. This represents an easing of Mortgage Insurer’s prohibitions to cash back refinances which were eliminated several years ago at the beginning of the housing crisis. There are a few restrictions so contact John to see if this is a beneficial alternative for you given today’s record low interest rates.
