Hello Ms. Phillips, yes as it would not get called on a conventional appraisal. How much cash out? Your qualifications will be determined by your LTV, fico scores, etc., how much cash out and depending on the loan program choice.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Cash out won't be a good option,If you have lower interest rate. Compare the rates and see if makes sense to cash out. You can get HELOC also if there is equity in home. You can contact me through my profile.
You should speak with a lender and ask your question in conversation. If the only reason you seek cash out via a refinance is to repair or replace your heating system...there are easier ways which may prove less costly in the long run. Again, talk to a lender and explain your question in detail.
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