Tapping Homes for Cash to Get Tougher Under New FHA Limits
Wall Street Journal, Aug. 1, 2019–Ben Eisen (subscription)
The Federal Housing Administration, which insures loans for mostly first-time buyers, plans to announce Thursday it will limit cash-out refinancings in its program. Borrowers will be able to pull cash out only when the new loan amounts to 80% of the value of the home or less, down from 85%.
