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What if I want to refinance my house and take cash out of the deal for a vacation and some new furniture? Does the AHFS lien have to be settled?

April 26, 2017cash deal furniture House lien Refinance settled vacation

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What if I want to refinance my house and take cash out of the deal for a vacation and some new furniture? Does the AHFS lien have to be settled?

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Yes, if you take cash out of the refinancing, the AHFS loan must be repaid in full. If you are just refinancing to adjust your interest rate with no cash out, immediate repayment of the AHFS loan is not required.