I really owe $48,000 on my mortgage but was unable to type that in. I would like to refinance with cash out for a total of $90,000 to make some home improvements and to pay off debt. Do you refinance condos? If so, are there special conditions I need to be aware of?

85% Loan to Value cash out refi w/ FHA financing. There are other factors involved but would need more information to give you the best and most accurate info. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710#!/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

Yes, the condo will have to be on approved list and you can take cash out up to 75% Conventional and 85% FHA. Located locally and providing the best service I can be reached at ballen@accessnational.com or 888-354-3299.

Condo's and Mobile homes are the toughest loans to do in this current lending environment. The short answer is yes, so long as you're loan is within 85% of the value, then you can pull cash out.. but that's the short answer.. the long answer is much more complicated... most condominiums do not qualify. FHA requires a certain percentage of the condo's within a complex be owner occupied. They also must be on the approved condo list available on HUD's website. On the conventional side, the lenders require a questionnaire to determine if the condo association has enough reserves, occupancy ratio, vacancy ratio, and number of paying tenants, as well as a whole list of other stuff.. Best advice I can give you is to contact a local mortgage broker, not a bank and apply with them.. what will take you months to check out and research on the internet, they can do within an hour or so... WilliamAcres.com