Debt Consolidation / Cash-out HUD Loans

What HUD Insured Loans Do For The Debt Consolidation /
Cash-out Loan

HUD guidelines will allow home owners to use up to 95% of the equity in their homes for the following purposes:

• Cash-out
• Debt Consolidation (2nd mortgage / high interest credit cards)
• Home Improvement
• Education
• Payoff Tax Liens and Judgments

HUD will allow you borrow up to the limit that HUD set for each county (call for your area specific loan limits) for any of the above items. Borrowers must be credit and income qualified. Also they must have a full HUD appraisal done on the property. The property must be owner occupied. In addition to using the equity you may also reduce the rate and term of the mortgage.

What A HUD Insured Loan Borrower
Needs To Get Started

Now that you have decided to use the equity in your home, you need to enroll in the HUD Insured mortgage program.

To get started contact us at 1-866-562-6318. Be prepared to have the following information available:

• Borrower (s) name, address
• Social Security number (s)
• Phone numbers
• Date of birth (s)
• Estimated loan balance
• Yearly Income/s
• Dollar Amount needed
• Estimated property taxes
• A deposit of $195.00 is required and is refundable upon closing. (Visa, MasterCard, and Discover)
• $375 for the HUD appraisal (may be higher for 2,3, and 4 family homes)

Available terms for VA Financing:

• 30 year fixed rate
• 25 year fixed rate
• 20 year fixed rate
• 10 year fixed rate
• 15 year fixed rate
• 3/1 ARM fixed for first three years
• 1/1 ARM fixed for first year