Does anyone have any info on how much i would need or if its possible to refinance an Fha loan into a investment loan or conventional loan? by antsca_272_927 from Hoboken, New Jersey. Jul 31st 2012
to refinance any loan that is now investment property, you need to have a minimum of 20% equity, preferably 25%. So it really depends on what the value of your property is ... 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
You didn't explain why you want to refi out of an FHA, if it is to get a better rate, you should know that FHA does allow for a streamline refi of an FHA loan even if the borrower no longer lives in the home. If it's because you are trying to get the loan out of FHA so you can purchase another residence using FHA, most investors will allow a max LTV of 75% of the current appraised value of the home on investment property. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950
Call me, and I can provide with a no obligation quote for your refinance. Depending on a few factors, you may be eligible for an FHA Streamline Refinance. Cell 347-231-4444 Office 908-933-0253 Email: PBotros@OmegaLoans.net
I really need a little more info on what you are wanting to do. I am a mortgage broker here in NJ please give me a call to discuss further. 201-962-3555 Michelle
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