| FHA Refinance If you are facing foreclosure we have helped many homeowners refinance out of foreclosure to a fixed rate loan. |
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04-23-2009, 07:18 PM
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Can I refinance FHA to conventional loan?
I purchased a house for $200,000. It is a new build and got a huge discount from the builder. The house appraised for $250,000. Does that mean I have $50,000 equity. Would this then mean I could refinance my FHA to a conventional to remove my mortgage insurance since I have more than 20% equity. I have only been in my house for about a month.
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04-23-2009, 08:39 PM
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I'm pretty sure you have to wait at least 1 year.An FHA appraisal can't be overridden for a year.
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