Conventional loan plus 203K FHA = FHA loan?

[Cenddie Alaban]

Hello Everyone,

I bought a house to live in last September of 2018. I bought it with conventional loan with 3.5 % downpayment. It needs a rehab of about 30K. I plan to take an 203K FHA loan for the rehab. My question is can I refinance and bundle the 203K loan and my original conventional loan into a single FHA loan?

Thank you in advance

Cenddie "Vic" Alaban

[Shawn Mcenteer]

@Cenddie Alaban not sure if this helps but there are conventional loans that work in the same way as an FHA 203k loan. The benefit of conventional renovation loan is you will not have to refi to remove PMI and you will not have to jump through additional hoops with the FHA.