Can a conventional home mortgage loan be refinanced using FHA?
Written By: admin on June 27, 2009
One Comment
I know that if a person already has an FHA loan, they may refinance using the FHA Streamline process. If a person currently has a conventional mortgage loan, can they refinance using FHA? If posible, can you please provide me the resource where I can read this information. Only if that's not to much distress. I looked on the HUD website but locating that particular information was far to cumbersome. Thank you
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yes you can but the right answer is…you can financing a FHA mortgage, but ONLY up to 95% loan to value for refi's cashouts, and it depends on the COUNTY limits…not the state limits. They have county limits….not state limits.
Streamline FHA refinance is for those who dont plot on taking money out, but those who just want a lower rate.