cash out refinace when there is a second mortgage

I have a Second Mortgage…does this make my Refinance a “Cash Out”?

March 15, 2010 Cash Out Refinance

  If you have a second mortgage on your home you need to be aware of the rules of when a refinance is considered “cash out”.  When an application is considered a cash out refinance, the maximum Loan to Value will be limited to 80% for Conventional financing and 85% for FHA financing.   The […]

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