Remove Bankruptcy Remove Closing costs Remove Debt-to-income ratio Remove Fixed-rate mortgage
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Should You Pay Off Debt With a Cash-Out Refinance? What to Consider

HomeLight

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom.

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FHA Guidelines

Real Estate Finance HQ

Housing Ratio. Debt to Income Ratio. Mortgage Insurance. Interest Rates. Mortgage Limits. Credit Score: FHA loans feature very lenient credit requirements; the following score ranges should give you an idea of what you can qualify for: 500 and below: likely cannot get an FHA mortgage.