This type of loan is common with
certain types of refinance transactions.
Certain types of refinancing deals, often called «Cash - Out Mortgage Refinancing,» allow you to pull cash out of the equity in your home, but you need to be careful with such deals.
Beyond that, per the VA Lender's Handbook «Cash to the veteran from loan proceeds is permissible only for
certain types of refinancing loans and under very limited circumstances...» For other types of refinancing loans and all acquisition / purchase loans, cash - out is not permissible.
This is common in
certain type of refinances like FHA Streamline Refinances and VA IRRRLs where the borrower does not want to come to closing with any money & would also like to keep the new loan balance from increasing as a result of refinancing.
Not exact matches
RRIF direct loans can only be used to
refinance outstanding debt incurred for
certain types of eligible projects, including debt incurred to acquire, improve, or rehabilitate intermodal or rail equipment or facilities, including track, components
of track, bridges, yards, buildings, and shops, and costs related thereto, or to develop or establish new intermodal or railroad facilities.
RRIF guaranteed loans can only be used to
refinance outstanding debt incurred for
certain types of eligible projects, including debt incurred to acquire, improve, or rehabilitate intermodal or rail equipment or facilities, including track, components
of track, bridges, yards, buildings, and shops, and costs related thereto, or to develop or establish new intermodal or railroad facilities.
If you're considering
refinancing Direct Loans, you may lose
certain types of forbearance and deferment options that may be available to you.
Certain jurisdictional expectations and rules are a part
of any
type of financing or
refinancing and can be further explained through an Internet presentation with www.hud.gov.
This
type of refinancing loan may have
certain implications at closing, and there may be additional closing cost fees to consider.
If you're considering
refinancing federally - backed student loans, you may lose
certain types of forbearance and deferment options that may be available to you.
The Agencies intend to publish a supplemental proposal to request comment on possible exemptions for «streamlined»
refinance programs and small dollar loans, as well as to seek comment on whether application
of the rule to loans secured by
certain other property
types, such as existing manufactured homes, is appropriate.
An expansion
of project
types eligible for the SBA 504 / CDC
refinance program will alleviate some
of that pressure by allowing small businesses to
refinance certain owner - occupied commercial buildings.
This
type of refinance requires the homeowner to bring a
certain amount
of funds to the closing to pay down the old balance.