Freddie Mac Seller/Servicer Guide 4301.5: Cash-out refinance Mortgages
A cash-out refinance Mortgage is a Mortgage for which there are no specific restrictions on the use of the proceeds.
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 4301.5 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
What this section covers
- (a) Occupancy requirement for Primary Residences
- (b) Six-month ownership requirement for the Mortgaged Premises
- (c) Cash-out refinance Mortgage paying off a First Lien Mortgage
- (d) Cash-out refinance Mortgage on a property owned free and clear
- (e) Credit Fees
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.