Refinance out of FHA

[Sean Ebert]

Hello All,

I have a question about refinancing out of my FHA loan. I bought my first owner occupied duplex over the summer of 2015 in Manchester, NH. I did minor upgrades in one of the units (flooring) and plan to do some more basic updating. I doubt the minor updates have raised the value enough to give me 80% equity. My question is, is there anyway to refinance out of my FHA loan with not having enough equity into it. I want to get out of the FHA loan to use it to buy another owner occupied property with it after I've been here for one year. I would appreciate any recommendations or advice.

Thanks!