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FHA Reminders: Attached PUDs, Refi’s to 96.5%; Cash-out Refi to 85%

A few quick but important reminders about FHA Financing, as we get questions often:

1. FHA financing is available for all Planned Unit Developments (PUDs) or “townhomes,” even if they are attached and in large complexes that look like condos. As long as they are not zoned as condos, they are eligible for FHA financing in most cases.

2. Borrowers can refinance into 96.5% loan-to-value FHA financing as long as they qualify and it is “rate and term” (not cash-out). Many people think FHA is only for purchases.

3. Borrowers can do a cash-out refi with FHA financing up to 85% loan-to-value.

4. FHA rates are low, guidelines are very flexible, and loan limits are high (up to $625,500 or more for multi-units). It is important to never discount the FHA option.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646