Cash from equity without giving up a good first mortgage: second lien or cash-out refinance
Consumer and agency sources
The short version
Home Equity vs. Cash-Out Guide relies on CFPB consumer guidance on equity borrowing, Fannie Mae's cash-out rules and FHFA's conforming limits.
Last reviewed against the primary sources listed below.
Reviews
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Consumer and agency sources
- CFPB: Home equity loans, cash-out refinances and other options similar to a HELOC
- CFPB: What is a home equity line of credit (HELOC)?
- CFPB: What is a Loan Estimate?
- CFPB: Loan Estimate explainer
- Fannie Mae Selling Guide B2-1.3-03: Cash-out refinance transactions
- Fannie Mae Selling Guide B3-4.1-01: Minimum reserve requirements
- FHFA: Conforming loan limit values