Refinancing a property purchased with a 203k loan

[Zachary Wolf]

To my understanding, the 203k loan has the benefit of minimizing upfront cost to acquire the property,  but you get punished by the premiums over the long term. Is it possible to refinance after a few years to avoid that punishment, or are those costs already factored in the loan total? Thanks. 

[Christopher Rutherford]

Yes, you can refi out. I did a 203k on my last property and then did a refi into a physician loan (nothing down and no PMI) shortly after the project was completed.