FHA to FHA is ok.. Conventional to FHA is for owner occupied properties only. For FHA to FHA, there are restrictions as to how much you can finance, so you will need to come out of pocket a little, but it is allowed... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
If you currently have an FHA loan we could do a streamline refinance with no appraisal. Get into touch with me, I should be able to help you. P: 888-320-7888 - www.MortgagesforAmerica.org - Ken Burrows
YES, you CAN refinance a property with an FHA Loan that was once your primary home, but is now a rental property. www.FHA-Streamline-Refinance-MN.com
The answer is Yes, assuming you have an existing FHA Insured Mortgage. The question is if FHA will be the right option for you as it does include Annual / Monthly Mortgage Insurance as well as Upfront Mortgage Insurance. If you have equity in the property, then there should be consideration given to other loan options. I would be happy to discuss these with you as a Direct Nationwide Lender. Please feel free to email me through this site or visit my website for more information. Enjoy the day!
FMiller -- The simple answer to this question is this : What type of loan is the rental property currently under now, conventional I assume right? If it was conventional when you 1st took it out and you did the loan as your primary residence............ That's the key -- then you can technically refinance it into FHA. This is assuming you dont already have an FHA loan under your name now. Andrew
If the existing loan is an FHA the answer is yes. Otherwise, not unless you plan to live in that property as your primary residence.
No you can't refi a rental. FHA loans are for owner occupied homes only.
if it has an existing FHA loan on it, then yes
Yes you can do an FHA streamline refinance. The only caveat is that your current mortgage must have been originated prior to June 2009. If this is the case, then the answer is yes it can be done easily. FHA allows for streamline loans that originated as owner occupied and were converted to rentals so this is ok. I am here in Texas if you need some help! 512-788-2502
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