Yeah, I'm probably late on answering this one, but better late than never. The pro of doing a cash out with FHA is that you may borrow up to 85% of the value of your home. You will need to have mortgage insurance, however the premium is half that of the 30 year fixed rate and you need to hold MI for minimum 5 years with your house in a non-declining market plus have 22% equity in the property before dropping it. As Ms. Clarke mentioned, too many other parts to the equation to quote rate. It comes down to service and Ms. Clarke seems to know what she's talking about.