Can I take out a mortgage on a paid off home? If your home is paid off, you can apply for a home equity loan without much hassle, she says. ... With a cash-out refinance, you can take out 80 percent of the home's value in cash. With an FHA cash-out refinance, the limit is 85 percent plus you have to pay a mortgage insurance premium and an upfront premium.
Is a 5'1 arm a good idea? Mortgage Guide The advantage of a 5/1 ARM is that during the first phase, you get a much lower interest rate and payment. If you plan... more