Rate and Term
Last updated 08-20-2026
FHA Single Family Housing Policy Handbook Glossary November 26 2025
Updated 08-20-2026
Rate and Term
Rate and Term refers to a no cash-out refinance of any Mortgage in which all proceeds are used to pay existing mortgage liens on the subject Property and costs associated with the transaction.
FHA Single Family Housing Policy Handbook Glossary November 26 2025
p. 48
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