Question by Mr. G: Can I refinance my FHA mortgage to a Conventional mortgage?
I bought my home a year ago, ask generic and would like to refinance and take out the equity to pay off bills and make some much needed repairs around the house. With an FHA mortgage you can only cash out up to 85% of the equity of your home. I would like to know if its possible to refinance my FHA loan to a conventional loan and to cash out the full value of my home? I have had a full time job for over 2 years and have good credit and also a cosigner if needed. Thanks for your help
Best answer:
Answer by Woof
No. No lender will give you a conventional loan for 100% of LTV.
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You can refi from FHA to Conventional but you won’t get any more cash out. No PMI company that I know of is going above 85% LTV.
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