I bought my condo in 2008 at a rate of 6%.
I would like to refinance but, I got help from the government for my down payment and I also get help with my monthly payments for the first four years. Can I refinance without having to repay the grant or do I first either have to pay that back or wait the required five years even though I'm not selling my place. by Vicki Hans from Minnetonka, Minnesota. Jun 30th 2010
Gregorio Denny (GVDenny)
#257 ranked lender in California - 380 contributions
The only one that can answer that is you. You need to read the terms of the note that you signed.
Peter Kelsey (pkelsey)
#12 ranked lender in South Carolina - 8 contributions
You need to pull out your paperwork/ mortgage note and read through it. If there is some sort of recapture close to what you got from the government it may not be considered true equity you have in your home.
Rudi Hofmann (CaPortfolioLoans)
#281 ranked lender in California - 380 contributions
Talk with the Agency that provided the assistance. Of course, have your paperwork in hand. ... Happy funding, Rudi
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