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Updated about 4 years ago,

User Stats

32
Posts
22
Votes
Chase Taylor
  • Rental Property Investor
  • Virginia Beach, VA
22
Votes |
32
Posts

Refinance FHA to Conventional & HELOC

Chase Taylor
  • Rental Property Investor
  • Virginia Beach, VA
Posted

I purchased a duplex with FHA financing in July 2019 that I still occupy. I bought the property off market at a discount and with appreciation now have 20% equity. I was considering a cash out refinance to tap the equity but landed on 100 LTV HELOC product which I am in the process of completing now. My question is can I refinance the FHA to conventional to drop PMI even with the HELOC? In hindsight, I think I should have refinanced to conventional then pulled the HELOC. Also, if the latter is the case, is this still an option as I haven't completed the HELOC yet? Thanks in advance.

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