Freddie Mac Seller/Servicer Guide 4301.4: “No cash-out” refinance Mortgages
A “no cash-out” refinance Mortgage is a Mortgage for which the proceeds may be used only as described in this section.
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 4301.4 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
What this section covers
- (a) Allowable uses of proceeds from a “no cash-out” refinance Mortgage
- (b) Allowable uses of proceeds for Refi Possible Mortgages, CHOICERenovation Mortgages, GreenCHOICE Mortgages, Construction to Permanent Mortgages and Renovation Mortgages
- (c) Treatment of excess proceeds
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.