Good advice below. If you are a member of a credit union I would try that for refinancing. Also as mentioned Key Bank and Compass Bank are portfolio lenders that don't necessarily have to adhere to the same guidelines as FHA, FNMA and FreddieMac. You can ask them about a buyer qualifying to purchase as well using their products. There is some legislation being written to loosen the strict FHA guidelines in place now that have put a choke hold on condo sales. I will check to see how that is progressing and report. I wouldn't expect to see anything change until after the election.
Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
As for selling, if you used an FHA Loan to purchase the property, it is likely assumable. Speak with your listing broker (or potential listing broker) about how to do this. It is a LOT easier than people think. The issue is with how competitive your FHA rate was - there are some buyers who will turn there nose at 5.5% or 6% rate, which is hilarious from a historical viewpoint, but others who will lap it up for the right unit b/c they just cannot find FHA-approved buildings otherwise. Also, that buyer can refi after 12 months of on-time payments. The other issue is if you are trying to cash in on value increase, that makes it difficult.
But actually, I am seeing a lot of cash or big downpayment buyers of late. You could end up being OK. I actually have a cash buyer seeking 1+BR, garage/carport AND private washer/dryer - does your unit fit that bill?
Click the "partners" box on my website for a couple great lender suggestions.
Best of luck!