Worst case scenario is you are denied and back to where you are right now.

The reasons are usually as simple as it won’t appraise, there’s a reason a loan would be denied, or the seller is sick of “pre-approved buyers” being turned down for their loan.

As a contrary point though, indirectly, it absolutely has an effect, and to deny that is wanton hubris.

You see in real estate for some reason we seem to think that we can deny all business fundamentals and that somehow, our situation is different.

@Daniel Jost  I've read multiple reports of CC issuers denying all new business applications, even to people with excellent credit. 

If it’s your primary residence, you might get an appraisal exception, but the cash out might deny that...I’m not sure.You can check rates on AIMlOAN (google aimloan rates) by putting in your loan info and can change scenarios to see difference in rates between refinance and cash out refinance.

My father doesn't make money outside of mowing for my mowing business and my mother only makes about $45k so they are unable to afford their nearly $4k/mo mortgage and are very close to short-selling their proper since my mother was just denied for a refinance.My question and topic for discussion is as follows: My parent's 14 acre farm in Northern Virginia (Loudoun County) has a tax appraisal of about $700k.

I would deny the application, and continue marketing.

(before anyone denies this...

I'm not getting a generic report or some "recommendation" to approve or deny like some services provide.