Can I receive a cash-out from a FHA Loan?
I am approved for a 70K FHA Loan. The house I want is 60K. Can I receive the remaining 10K in cash? Or will I only get the 56K to purchase the house? Is there any such thing as a cash out from a loan other than re-financing?
Tags: cashout, from, Loan, receive
2011/09/12 at 21:07:08
No, you cannot receive cash out. You have to refi, and every refinance costs you thousands of dollars in closing costs.