Refinancing out of FHA loan

[Joshua Rountree]

Hello everyone,

I am a new investor just trying to get my education in order before taking on my first deal. Something I am considering on my path, is to house hack using a FHA loan to get into my first property. I understand the guidelines are I have to live in the home for at least a year, and I plan on following this rule. My ideal scenario is at the end of this year term, I am able to move out and get into yet another house hack opportunity. My question is, would I be able to REFINANCE my way out of an FHA loan (assuming I use a BRRRR type property to begin with so it follows the 70% APV for the banks, and I do not lose any money this way) and Get into another FHA, BRRRR type property like my first? I understand I can only have one in my name, and have heard that I can keep using this method as long as I do it one at a time.

open to any thoughts, opinions, and advice on my question.

Thank you for reading.

[Derrick Dill]

Yes, you can refinance out of FHA to conventional and get rid of PMI