Financing in Lancaster>Question Details

Hobbs, Other/Just Looking in Lancaster, CA

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Asked by Hobbs, Lancaster, CA Mon Aug 2, 2010

We got an FHA loan of 100K on a house that cost 104K at 5%APR 2 years a go.
Back then the house was appraised at 134K and it is now at 125-129K and holding steady.
Can we switch/ref. to a not cash out conventional loan and use the equity of the house as the 20% down?
the principal is now 95K.
Is this feasible or do we need to come up with some down to be able to refinance anyways?

Help the community by answering this question:


Hi Hobbs: I suggest you to change the title of the question to more subject related - such as "Can I refinance my FHA loan to a Conventional Loan if I have 20+% equity on the house?"

This will get the right people (Mortgage Brokers) to answer your question.

Sylvia Barry
0 votes Thank Flag Link Mon Aug 2, 2010
Sylvia Barry,…, Real Estate Pro in Marin, CA
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