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FHA Cash-Out · Florida

FHA Cash-Out Refinance in Florida

Florida homeowners with post-2020 equity can pull cash up to 80% of appraised value — but Florida’s documentary stamp and intangible taxes hit the larger new note, so the net-cash math is different than in most states. Originated by Simply Approved Mortgages · Company NMLS# 2620881 · Equal Housing Opportunity.

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Quick answerSummary
  • ✓Maximum LTV: 80% of appraised value
  • ✓Any lien type (Conv, VA, USDA, FHA) can refinance into FHA Cash-Out
  • ✓12-month occupancy + 12-month on-time payment history required
  • ✓Full FHA appraisal, income, and asset documentation required
  • ✓UFMIP 1.75% + Annual MIP still apply
  • ✓HUD floor 500 FICO; lender overlays commonly 580–620+
  • ✓Owner-occupied primary residence only — no investment or second-home cash-out
  • ✓Florida-specific tax, recording, and insurance layers change real net-cash math
SA

Written by

Simply Approved Mortgages Team

Licensed Loan Officers · NMLS# 2620881

12 min read·Independently researched · No paid product placement
Content verified against HUD Handbook 4000.1 · Update 18 (August 12, 2026)Simply Approved Mortgages LLC is not affiliated with HUD or FHA. The handbook text governs; this page is an educational summary.
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Get your FHA Cash-Out Refinance in Florida scenario summary

Complete the short request and a Simply Approved Mortgages Loan Officer sends back a written summary built from your own numbers: an estimated payment breakdown, estimated cash to close, the loan structures that may fit your file, and the documentation underwriting will ask for.

  • Estimated monthly payment with taxes and insurance
  • Estimated cash to close for your scenario
  • Loan structures your profile may fit
  • Document checklist for your file
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Takes about 3 minutes · Summary shown on screen and emailed to you

Illustration only, generated from the information you enter. Not a rate quote, lock, loan estimate, pre-qualification, offer, approval, or commitment to lend. Figures are subject to credit, income, asset and property review and full lender underwriting; binding numbers appear on your Loan Estimate.

Scenario summary

Purchase price entered
$412,000
Down payment entered
$20,600
Estimated loan amount
$391,400
Estimated cash to close
$14,300
Programs reviewed
4

Sample layout with example figures — your own numbers replace these. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.

Pricing snapshot

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

FHA Rates for FHA Cash-Out Refinance in Florida — Today's Options at a Glance

Four real options from today's wholesale pricing for one documented sample scenario per program — no form needed. Updated twice each business day, about 10 AM and 2 PM Eastern. Your own rate depends on your credit, down payment, property, state and lock date.

Live pricing tool

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Live FHA Rates for FHA Cash-Out Refinance in Florida

Enter your scenario to see live wholesale pricing for Florida and Colorado. Figures are illustrative and not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate.

FHA mortgage pricing tool

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Enter your scenario to see live wholesale FHA pricing available to Simply Approved Mortgages for Florida and Colorado primary residences. Every figure shown comes from our pricing provider for the scenario you enter — nothing is estimated.

Consumer residential pricing is available in Florida and Colorado only.

Purchase price minus your down payment.

Occupancy

Primary residence (owner-occupied)

Pricing shown is based on the scenario entered and wholesale pricing available at the time of the search. It is not a rate lock, loan approval, commitment to lend, or guarantee of terms. Rates and pricing change frequently and expire. Your actual rate, APR, payment, and costs depend on a complete application, verified credit and income, property and appraisal review, and lender underwriting approval. Binding figures appear on your Loan Estimate.

Simply Approved Mortgages LLC is not affiliated with, acting on behalf of, or endorsed by the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), or any other government agency.

Simply Approved Mortgages LLC | NMLS #2620881 is a mortgage broker and is not a direct lender. Equal Housing Opportunity.

Scenarios this tool does not price
  • FHA 203(k) renovation and one-time-close construction pricing (submit these scenarios to a loan officer).
  • Non-owner-occupied and HUD REO $100-down scenarios.
  • Adjustable-rate FHA pricing (the tool prices fixed-rate terms only).

What is an FHA Cash-Out Refinance in Florida?

The FHA Cash-Out Refinance is an FHA-insured loan that pays off the existing lien(s) on your Florida primary residence and gives you additional cash proceeds at closing — up to 80% of the home’s appraised value. Any lien type can be refinanced into FHA Cash-Out; you do not need to already have an FHA loan.

Florida applies documentary stamp tax on the new promissory note and intangible tax on the new mortgage, both calculated on the larger cash-out loan amount. That typically adds roughly 0.55% of the new loan to closing costs — a Florida-only layer to factor into net-cash and break-even math before signing intent to proceed.

Florida FHA Cash-Out eligibility

  • Maximum LTV: 80% of appraised value.
  • Occupancy: Owner-occupied primary residence, occupied for at least 12 months.
  • Payment history: 12 months of on-time payments on any existing mortgage (no 30-day lates in the past 12 months).
  • Credit: HUD floor 500 FICO; lender overlays commonly 580–620+.
  • Property type: 1–4 unit primary, HUD-approved condo, or manufactured home on permanent foundation.
  • Appraisal: Required — full URAR FHA appraisal by a HUD-roster appraiser.
  • Documentation: Income, employment, and asset verification.

Florida tax, recording, and closing-cost layers

  • Documentary stamp tax on the new note: $0.35 per $100 statewide (Florida DOR § 201.08).
  • Intangible tax on the mortgage: $2.00 per $1,000 of the new loan amount (Florida DOR § 199.133).
  • Combined FL-specific tax layer on the cash-out note usually totals ~0.55% of the new loan amount.
  • Owner’s title insurance is optional on a refi but lender’s title is required; Florida title premiums are promulgated by statute (Florida OIR).

Florida insurance and escrow considerations

Florida wind and, in FEMA flood zones, flood coverage that meets FHA and lender minimums drive the escrow line on your Loan Estimate. Premium levels have risen substantially in many Florida counties per the Florida Office of Insurance Regulation, so a Florida FHA cash-out file can support less new debt at the same DTI than the same file in another state.

How much cash can I actually pull in Florida?

Net cash to the borrower equals the new loan amount minus the payoff of existing liens, minus closing costs and prepaid escrows, and minus any Florida-specific taxes on the new note where applicable. The 80% LTV cap is the ceiling — but DTI, credit tier, and MIP-adjusted payment usually set the real limit before LTV does.

Expert Insight
The 80% LTV cap is federal — HUD tightened FHA cash-out from 85% to 80% in 2019 to protect homeowner equity buffers. If your Florida file needs a higher LTV than 80%, a VA cash-out (up to 90% LTV for eligible veterans) or a HELOC layered on top of a preserved first lien are usually the next best options. Every option must satisfy the applicable Net Tangible Benefit and ability-to-repay rules under Regulation Z.
Simply Approved Mortgages Team
Licensed Loan Officers • NMLS# 2620881

FHA Cash-Out process in Florida

  1. 1

    Confirm equity and eligibility

    Your Simply Approved Mortgages Loan Officer runs a rough valuation for your Florida property and confirms occupancy, seasoning, credit, and income.
  2. 2

    Full application and documentation

    Two years of tax returns/W-2s, most recent paystubs, bank statements, ID, current mortgage statement, and homeowners-insurance declarations.
  3. 3

    Full FHA appraisal

    A HUD-roster appraiser produces the market value used to compute the 80% cap.
  4. 4

    Underwriting

    Underwriting confirms LTV, DTI, credit, and payment history. Cash to borrower is calculated after payoffs, closing costs, and any state-specific tax layers.
  5. 5

    Closing Disclosure and signing

    CD delivered at least 3 business days before signing per TRID.
  6. 6

    Rescission and funding

    Owner-occupied refinances carry a 3-business-day right of rescission per Regulation Z; funds disburse after that window.

Common FHA Cash-Out use cases in Florida

✓

Home improvements

Kitchen, bath, or system upgrades on a Florida primary residence — one fixed-rate first-lien loan.

✓

Consolidate higher-cost debt

Roll high-APR revolving debt into mortgage-rate debt subject to DTI and NTB rules.

✓

Access equity from a non-FHA loan

Refinance a conventional, VA, or USDA loan into an FHA-insured cash-out.

✓

Refinance out of a HELOC into fixed

Convert a variable-rate second lien to a fixed-rate first-lien FHA loan.

✓

Rebuild reserves

Restore savings after a major planned expense subject to program limits.

✓

Buy out a co-owner

Pay off a partner or ex-spouse from the deed as part of the cash-out proceeds.

Refinance loan options

Which refinance loan option fits in Florida?

Six refinance paths — each with different LTV caps, appraisal rules, and pricing. Pick the one whose "why" matches your goal. Educational only — not a quote, lock, offer, or commitment to lend.

Rate-and-Term Refinance — the classic "lower my rate" refi

Choose this when your goal is a lower interest rate, a shorter term (30 → 20 → 15), or switching program types (ARM → fixed, FHA → conventional to shed MIP). No cash is disbursed to you at closing — the new loan just replaces the old one. Rate-and-term pricing is typically the lowest of any refi option because LTV caps are higher and risk to the investor is lower.

Best for

  • ✓Rates have dropped since you closed your existing loan
  • ✓You want to switch from an ARM to a fixed rate
  • ✓You want out of FHA mortgage insurance and have ≥20% equity
  • ✓You want to shorten your term and pay less interest over the life of the loan

Requirements & caps

  • •LTV up to 97% conventional (Fannie HomeReady / Freddie Home Possible), 97.75% FHA, 100% VA IRRRL
  • •Minimum FICO ~620 conventional / 580 FHA / no VA-imposed minimum (lender overlays apply)
  • •DTI generally 45% standard conventional (up to 50% with AUS + factors), 43% standard FHA (up to ~56.99% with AUS + compensating factors)
  • •Full appraisal typically required (Fannie Value Acceptance / Freddie ACE may waive on eligible files)

Source: Fannie Mae Selling Guide B2-1.3-03; Freddie Mac Guide 4301.4; HUD 4000.1 II.A.8.d. Guidelines subject to change; lender overlays may apply. Individual results vary.

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A Simply Approved Mortgages Loan Officer will confirm 80% LTV eligibility, run the net-cash math with state-specific fees, and quote what your file actually supports.

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FHA Cash-Out Refinance market update

What FHA cash-out borrowers should know this month

November 2026

30-Yr Fixed · national avg

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15-Yr Fixed · national avg

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U.S. Home Price Index · Case-Shiller

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Why this matters for FHA cash-out in November 2026: FHA cash-out caps your new loan at 80% of the appraised value, so your usable cash is a direct function of two things — the appraisal (which tracks the home price index above) and the rate you refinance into. When home prices rise, your 80% LTV number rises with them; when 30-year rates fall, the payment on that new balance falls too. Rates fluctuate weekly; the Case-Shiller index publishes with a two-month lag, so treat both figures as directional context, not a quote. Sources: Freddie Mac PMMS, FRED CSUSHPINSA, HUD ML 2019-11. Reviewed November 2026 (2026 program year). Individual results vary; not a quote, lock, offer, or commitment to lend.

Today's live FHA cash-out refinance rates in Florida

Rate snapshots refresh from Freddie Mac PMMS (via FRED) throughout the day. Your locked rate depends on credit score, LTV, occupancy, loan size, and market conditions the day you lock — not the national average. Figures are illustrative; not a quote, lock, offer, or commitment to lend. Binding numbers appear on your Loan Estimate.

Today's rates

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Real rates — your scenario, not a guess

Today's rate options below refresh twice each business day from our wholesale pricing engine; run your own scenario in the pricing tool. National survey averages below give you market context — they're not Simply Approved's pricing.

Our live pricing engine

See your real rate — for your scenario, in our pricing tool

Pull live, scenario-specific pricing from our wholesale pricing engine. Your binding rate and APR are confirmed on your Loan Estimate after a quick file review.

See My Live Rate →

Pricing snapshot

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Today's Mortgage Rate Options at a Glance

Four real options from today's wholesale pricing for one documented sample scenario per program — no form needed. Updated twice each business day, about 10 AM and 2 PM Eastern. Your own rate depends on your credit, down payment, property, state and lock date.

National market context

Freddie Mac PMMS — weekly U.S. averages

Source: Freddie Mac PMMS (PMMS_history.csv)

Loading latest PMMS averages…

PMMS figures shown above are Freddie Mac's national survey averages, published weekly by Freddie Mac (PMMS_history.csv) — they are not Simply Approved Mortgages' rates, not a quote, not a lock, and not an offer or commitment to lend. Your actual rate, APR, and payment depend on credit profile, loan program, occupancy, LTV, DTI, property type, lock period, and current market pricing at the time of lock. Your binding figures appear on your Loan Estimate. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

FHA Cash-Out Refinance by Florida city

Local Florida city guides for the FHA Cash-Out Refinance — 80% LTV cap, seasoning, MIP, and worked net-cash math applied to each market.

Miami, FL
Median: $625,000
FHA Cash-Out guide →
Tampa, FL
Median: $405,000
FHA Cash-Out guide →
Orlando, FL
Median: $395,000
FHA Cash-Out guide →
Jacksonville, FL
Median: $335,000
FHA Cash-Out guide →
Fort Lauderdale, FL
Median: $505,000
FHA Cash-Out guide →
St. Petersburg, FL
Median: $390,000
FHA Cash-Out guide →

Local Florida FHA guides

Florida FHA loan pages by county and city

Every Florida county and major city has its own FHA loan guide with the same MIP rules, 580-FICO 3.5%-down FHA structure, and DPA context — localized to that market.

Florida counties

Miami-Dade County FHA loans →Broward County FHA loans →Palm Beach County FHA loans →Monroe County FHA loans →Collier County FHA loans →Lee County FHA loans →Charlotte County FHA loans →Sarasota County FHA loans →Manatee County FHA loans →Hillsborough County FHA loans →Pinellas County FHA loans →Pasco County FHA loans →Hernando County FHA loans →Citrus County FHA loans →Orange County FHA loans →Seminole County FHA loans →Osceola County FHA loans →Lake County FHA loans →Polk County FHA loans →Sumter County FHA loans →Volusia County FHA loans →Marion County FHA loans →Duval County FHA loans →St. Johns County FHA loans →Clay County FHA loans →Nassau County FHA loans →Baker County FHA loans →Flagler County FHA loans →Alachua County FHA loans →Putnam County FHA loans →Levy County FHA loans →Gilchrist County FHA loans →Dixie County FHA loans →Lafayette County FHA loans →Suwannee County FHA loans →Hamilton County FHA loans →Madison County FHA loans →Taylor County FHA loans →Columbia County FHA loans →Union County FHA loans →Bradford County FHA loans →Escambia County FHA loans →Santa Rosa County FHA loans →Okaloosa County FHA loans →Walton County FHA loans →Bay County FHA loans →Holmes County FHA loans →Washington County FHA loans →Jackson County FHA loans →Calhoun County FHA loans →Gulf County FHA loans →Franklin County FHA loans →Liberty County FHA loans →Gadsden County FHA loans →Leon County FHA loans →Wakulla County FHA loans →Jefferson County FHA loans →Brevard County FHA loans →Indian River County FHA loans →St. Lucie County FHA loans →Martin County FHA loans →Okeechobee County FHA loans →Highlands County FHA loans →Hardee County FHA loans →DeSoto County FHA loans →Glades County FHA loans →Hendry County FHA loans →

Florida cities

Miami FHA loans →Miami Beach FHA loans →Coral Gables FHA loans →Doral FHA loans →Homestead FHA loans →Hialeah FHA loans →Kendall FHA loans →Fort Lauderdale FHA loans →Hollywood FHA loans →Pembroke Pines FHA loans →Coral Springs FHA loans →Pompano Beach FHA loans →Plantation FHA loans →Davie FHA loans →West Palm Beach FHA loans →Boca Raton FHA loans →Boynton Beach FHA loans →Delray Beach FHA loans →Wellington FHA loans →Jupiter FHA loans →Key West FHA loans →Marathon FHA loans →Key Largo FHA loans →Naples FHA loans →Marco Island FHA loans →Fort Myers FHA loans →Cape Coral FHA loans →Bonita Springs FHA loans →Estero FHA loans →Lehigh Acres FHA loans →Punta Gorda FHA loans →Port Charlotte FHA loans →Sarasota FHA loans →Venice FHA loans →North Port FHA loans →Lakewood Ranch FHA loans →Bradenton FHA loans →Tampa FHA loans →Brandon FHA loans →Riverview FHA loans →Plant City FHA loans →St. Petersburg FHA loans →Clearwater FHA loans →Largo FHA loans →New Port Richey FHA loans →Wesley Chapel FHA loans →Land O' Lakes FHA loans →Zephyrhills FHA loans →Spring Hill FHA loans →Brooksville FHA loans →Inverness FHA loans →Crystal River FHA loans →Orlando FHA loans →Winter Garden FHA loans →Apopka FHA loans →Winter Park FHA loans →Ocoee FHA loans →Sanford FHA loans →Altamonte Springs FHA loans →Lake Mary FHA loans →Oviedo FHA loans →Kissimmee FHA loans →St. Cloud FHA loans →Celebration FHA loans →Clermont FHA loans →Leesburg FHA loans →Mount Dora FHA loans →Tavares FHA loans →Eustis FHA loans →Lakeland FHA loans →Winter Haven FHA loans →Davenport FHA loans →Haines City FHA loans →Bartow FHA loans →The Villages FHA loans →Wildwood FHA loans →Daytona Beach FHA loans →DeLand FHA loans →Deltona FHA loans →Port Orange FHA loans →New Smyrna Beach FHA loans →Ocala FHA loans →Jacksonville FHA loans →Jacksonville Beach FHA loans →Atlantic Beach FHA loans →St. Augustine FHA loans →Ponte Vedra Beach FHA loans →Nocatee FHA loans →Orange Park FHA loans →Fleming Island FHA loans →Middleburg FHA loans →Fernandina Beach FHA loans →Yulee FHA loans →Palm Coast FHA loans →Gainesville FHA loans →Alachua FHA loans →Newberry FHA loans →Palatka FHA loans →Lake City FHA loans →Chiefland FHA loans →Williston FHA loans →Live Oak FHA loans →Starke FHA loans →Madison FHA loans →Perry FHA loans →Pensacola FHA loans →Pensacola Beach FHA loans →Cantonment FHA loans →Milton FHA loans →Navarre FHA loans →Gulf Breeze FHA loans →Pace FHA loans →Crestview FHA loans →Fort Walton Beach FHA loans →Destin FHA loans →Niceville FHA loans →DeFuniak Springs FHA loans →Santa Rosa Beach FHA loans →Freeport FHA loans →Panama City FHA loans →Panama City Beach FHA loans →Lynn Haven FHA loans →Tallahassee FHA loans →Crawfordville FHA loans →Quincy FHA loans →Marianna FHA loans →Chipley FHA loans →Bonifay FHA loans →Port St. Joe FHA loans →Apalachicola FHA loans →Melbourne FHA loans →Palm Bay FHA loans →Titusville FHA loans →Cocoa FHA loans →Cocoa Beach FHA loans →Viera FHA loans →Merritt Island FHA loans →Vero Beach FHA loans →Sebastian FHA loans →Port St. Lucie FHA loans →Fort Pierce FHA loans →Stuart FHA loans →Palm City FHA loans →Jensen Beach FHA loans →Hobe Sound FHA loans →Okeechobee FHA loans →Sebring FHA loans →Avon Park FHA loans →Lake Placid FHA loans →Wauchula FHA loans →Arcadia FHA loans →LaBelle FHA loans →Clewiston FHA loans →
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Monthly Florida FHA cash-out rate and equity updates

Get Freddie Mac PMMS rate moves, HUD FHA rule changes, and home-price index updates once a month from licensed loan officers. Unsubscribe anytime.

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Key qualifying numbers

FHA Cash-Out Refinance — max LTV, credit score & DTI at a glance

The four numbers most borrowers ask about first. Full underwriting matrix and citations are further down the page.

Max LTV

80%

current HUD guidance dropped FHA cash-out cap from 85% → 80% on 8/1/2019. Still in force.

Min credit score

500

HUD floor; most lenders overlay 580–620. FHA cash-out pricing rewards 660+.

Max DTI

43%

Standard 43% back-end for manual underwriting. Same as FHA purchase — can stretch up to 56.99% with an AUS "Accept" + strong compensating factors.

Seasoning

12 months

12 months on-time payments + 12 months continuous occupancy on the subject property.

Guidelines subject to change; lender overlays may apply. Illustrative only — not a rate quote, lock, offer, or commitment to lend. A Simply Approved Mortgages Loan Officer confirms the numbers on your actual file.

See where you stand on these requirements

A Simply Approved Mortgages Loan Officer will review your credit, income, and reserves against real program guidelines — no obligation.

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Refinance Calculator

Refinance break-even & lifetime savings

Enter your current loan and a proposed rate to see monthly savings, the month you break even on closing costs, and whether the refinance actually reduces total interest paid. Educational only — not a quote, lock, offer, or commitment to lend.

Your current loan

$

Proposed refinance

$

Your results

Current monthly P&I$2,253
New monthly P&I$1,970
Monthly savings$283
Break-even month23 mo (~1.9 yr)
Remaining interest — current loan$410,108
Total interest — new loan$389,306
Lifetime interest changeSave $20,802

Break-even = closing costs ÷ monthly payment savings. Lifetime interest assumes both loans are held to term; a refinance that lowers the payment but resets your amortization can add total interest.

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Next steps

See Today's Rates

Emailing your Refinance break-even calculator scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Wholesale advantage

Compare loan officer compensation on your mortgage quote

Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.

Simply Approved Mortgages compensation (1.5%)$4,500
Quote you entered (2.75%)$8,250

Compensation difference on this illustration: $3,750.

How lower compensation can help you

Room for a lower rate

When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.

Possible credits toward closing

Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.

More purchasing power

A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.

Wholesale, not retail

As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.

Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.

Get a second opinion on your Loan Estimate

Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.

Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.

Get Ready

Document Checklist for FHA Cash-Out Refinance in Florida

Gathering these documents up front helps your Simply Approved Mortgages Loan Officer issue a stronger pre-approval and move FHA Cash-Out Refinance in Florida to Clear-to-Close faster. Actual items required vary by scenario — your loan officer will confirm the final list.

Choose your income type

Only the income documents that apply to you are shown. Switch tabs if you have multiple income sources — your loan officer will confirm which apply.

W-2 / Employed Income

  • ✓Most recent 30 days of paystubs (all borrowers, all jobs)
  • ✓W-2s for the last 2 years (all employers)
  • ✓Two-year employment history with employer names, addresses, and dates
  • ✓Verification of Employment — written (WVOE) or electronic (EVOE through a third-party payroll service); your loan officer orders it with your signed authorization
  • ✓Employment reverification within 10 days before closing — verbal or electronic, required on every file
  • ✓Bonus / commission / overtime: 2-year history if used to qualify
  • ✓Recent job change: offer letter and first paystub after start date
  • ✓Retirees / fixed income: Social Security award letter, pension statements, 1099-R

Assets & Reserves

  • ✓Most recent 2 months of bank statements (all pages)
  • ✓Most recent quarterly statement for retirement / brokerage / 401(k)
  • ✓Gift funds: signed gift letter + donor bank statement + transfer proof
  • ✓Large deposit letters of explanation with source documentation

Identity & Residency

  • ✓Government-issued photo ID (driver's license or passport)
  • ✓Social Security card or ITIN letter
  • ✓Two years of residency history with addresses

Credit & Liabilities

  • ✓Written credit report authorization
  • ✓Letter of explanation for any late payments, collections, or inquiries
  • ✓Bankruptcy discharge papers or foreclosure documentation (if applicable)
  • ✓Child support / alimony order (if paying or receiving)
  • ✓Divorce decree / separation agreement (only if applicable)

Property & Existing Loan

  • ✓Most recent mortgage statement (all liens on the property)
  • ✓Current homeowners insurance declarations page
  • ✓Recent property tax bill
  • ✓HOA statement and payoff (if applicable)
  • ✓Existing survey or title policy (helpful, not required)

FHA Cash-Out Documentation

  • ✓12-month mortgage payment history (no 30-day lates in last 12 months)
  • ✓Proof of 12-month owner occupancy

Educational checklist only. Not a commitment to lend and not a complete list of conditions. Documentation requirements are governed by agency guidelines (Fannie Mae Selling Guide, FHA Handbook 4000.1 incl. Update 18 (August 12, 2026), VA Lender's Handbook, USDA HB-1-3555) and individual investor overlays. Your Simply Approved Mortgages Loan Officer will provide your specific document list based on your scenario.

Credit Documentation & Monitoring

Credit Reports and Credit Monitoring for FHA Cash-Out Refinance in Florida

Credit is one of the four underwriting buckets every lender reviews — and one of the few you can actively improve before you apply. Monitoring your credit throughout the process helps you catch errors, fraud, and score changes early, which protects your approval timeline and your rate.

Step 1 · Lender Pull

Ordering Credit for Your Pre-Approval File

Once you sign your loan application (Form 1003) and disclosures, your Simply Approved Mortgages Loan Officer orders a tri-merge residential mortgage credit report (RMCR) from Equifax, Experian, and TransUnion. This is a hard inquiry, but FICO's model treats mortgage inquiries within a 45-day window as a single event, so shopping lenders during that window will not stack on your score.

  • What we need from you: signed borrower authorization, government-issued photo ID, Social Security number (or ITIN), and current address.
  • What the report shows underwriters: middle FICO score, open tradelines, minimum payments, late history, collections, public records, and recent inquiries.
  • How long it's valid: 120 days for conventional loans and for FHA/VA/USDA (HUD guidelines, VA Lender's Handbook Ch. 4). Older reports must be re-pulled before closing.
  • Rapid rescore: if a legitimate error is on your report, we can request a rapid rescore in 3–7 business days after you supply documentation from the creditor.
Pay for Your Credit Report →

This link redirects to our third-party credit vendor's payment portal. You pay the report fee directly so we can pull your tri-merge credit report for your pre-approval file. A credit pull is required for underwriting; this is not a commitment to lend.

Step 2 · Self-Check

Review and Monitor Your Credit at MyITINCredit.com

Before we pull your file, review and monitor your credit at MyITINCredit.com. Their $1 promotional trial gives you tri-bureau visibility plus ongoing credit monitoring so you can catch changes, disputes, or new accounts as they appear — not after they've already delayed your loan.

  • Verify accuracy: confirm names, addresses, SSN/ITIN, and every open account belong to you.
  • Dispute errors: the Fair Credit Reporting Act gives you the right to dispute inaccurate items directly with the bureau — no charge.
  • Address collections and charge-offs: a settled or paid collection can be documented in advance so it does not stall underwriting.
  • Pay down utilization: credit-card balances reported below 30% of the limit typically produce the strongest scores.
  • Avoid new credit: do not open new cards, finance a car, or co-sign for anyone from now through closing.
  • Monitor continuously: credit monitoring alerts you to new inquiries, balance changes, and potential identity theft while your loan is in process.
Check & Monitor Your Credit at MyITINCredit.com →

MyITINCredit.com is a service operated by Simply Approved Corporation (a DBA of that entity), which is the parent company of Simply Approved Mortgages LLC. Simply Approved Mortgages may receive subscription revenue if you choose to enroll. Credit monitoring through MyITINCredit.com is optional and is not required to apply for or obtain a mortgage with us. Promotional pricing, trial terms, and monitoring features are set by MyITINCredit.com and subject to change.

Why credit monitoring matters during a mortgage — A single new collection, missed payment, or unauthorized inquiry can change your qualifying score or trigger additional underwriting conditions. Typical minimum scores* — Conventional 620, FHA 580 (3.5% down) or 500 (10% down), VA no HUD minimum (most lenders 580–620), USDA typically 640, Jumbo 680–740, Doctor Mortgage 680–700+, Non-QM/DSCR varies by program, ITIN 620–680 alternative credit. Investor and lender overlays apply; individual results vary. Not a commitment to lend.

Trusted government resources

These independent government resources can help you research mortgage programs, rates, and your rights before you apply.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.

FAQs reviewed by Simply Approved Mortgages · November 2026

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Frequently Asked Questions About FHA Cash-Out Refinance in Florida 2026

Answers to the most common about FHA cash-out refinance in Florida 2026 questions, written by licensed loan officers.

80% of the appraised value. This applies to Florida the same as every other state — HUD sets the cap federally.
Ask Sam AI

Ask SAM anything about mortgages

SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.

Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.

SAM is an AI assistant — not a licensed loan officer, attorney, CPA or financial adviser. Answers are educational only, are not a quote, lock, offer or commitment to lend, and material loan terms must be reviewed by a Simply Approved Mortgages Loan Officer. Never share SSN/ITIN, date of birth, account numbers or passwords in chat. Residential mortgage loans are arranged in Florida and Colorado. Start My Approval.

Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

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  1. 1Sign in to your Google account and search a mortgage topic such as "mortgage rates".
  2. 2Select the icon next to "Top stories" to open the preferred sources panel.
  3. 3Search for Simply Approved Mortgages, tick the box, and save.
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Preferred sources is a Google Search feature controlled entirely by you and by Google. Simply Approved Mortgages LLC (NMLS #2620881) does not control search results and makes no representation about how or whether our content will appear. Educational content only — not a quote, lock, offer, or commitment to lend.

How this page connects

Where this fits in the FHA lending library

This is the Florida page for FHA cash out refinance.

What most readers open next

Explore the full guide

Keep reading — the rest of the buying playbook

Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.

Guide

FHA Cash-Out Refinance — national guide

Federal 80% LTV cap and HUD seasoning rules.

Read the guide →

Guide

FHA Streamline Refinance

Rate-and-term only, no appraisal — different program.

Read the guide →

Guide

FHA Mortgage Insurance (MIP)

UFMIP and Annual MIP mechanics on cash-out.

Read the guide →

Guide

FHA Appraisal Requirements

HUD MPR standards on the required cash-out appraisal.

Read the guide →

Guide

FHA Loans — Complete Guide

Every FHA program in one reference.

Read the guide →

Guide

Closing Costs Explained

Line-by-line on your Loan Estimate.

Read the guide →

Internal library

Related mortgage guides across our library

Follow the next relevant guide for your scenario.

FHA loans

FHA loan library

State hubs

By state

Simplify Your Mortgage Journey with These Resources

Home Value Report
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Mortgage Calculator
Home Affordability Calculator
Pay for my Credit Report
Mortgage Document Checklist
Down Payment Assistance
Native American Home Loans
FHA Loan Limits
See Today's Rates
Refinance Guide
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Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

FHA allows 3.5% down at 580+ FICO, or 10% down at 500–579 FICO.

What's your goal?
Purchase price$450,000
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Down payment (10.0%)$45,000
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A range is enough here — no credit report is pulled and your credit is not affected.

Estimated monthly payment at these numbers
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Illustrative estimate only — not a quote, rate lock, offer of credit, or commitment to lend.

Submitting this form is not an application for credit and is not a commitment to lend. No credit report is pulled at this step.

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From the Blog

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Plain-language articles to help you understand the home loan process, save on closing costs, and make confident decisions.

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Apr 30, 20265 min read
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Licensing & Disclosures

Simply Approved Mortgages LLC | NMLS #2620881

Florida Branch Office (Miami, FL) | Branch NMLS #2688012

Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration

Business Phone: (877) 813-7219

Equal Housing Opportunity

Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.

Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.

Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.

Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.

Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.

Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.

Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.

Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, or any other federal, state, or local government agency. References to government agencies, programs, benefits, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.

Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.

No professional advice. Content on this site is educational and general in nature and is not legal, tax, accounting, financial, investment, estate-planning, or individualized government-benefits advice. Consumers should consult appropriate qualified professionals regarding their individual circumstances.

Third-party content. References or links to government agencies, lenders, assistance programs, products, services, or other third-party websites are provided for informational purposes or convenience. Simply Approved Mortgages LLC does not control and is not responsible for third-party content, availability, accuracy, or privacy practices.

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Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.

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