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Updated about 3 years ago,

User Stats

5
Posts
3
Votes
Simone Douglas
  • New to Real Estate
  • Columbus, OH
3
Votes |
5
Posts

203K Loan Refi/ HELOC

Simone Douglas
  • New to Real Estate
  • Columbus, OH
Posted

Wrapping up my 203k loan renovation and have a couple of questions regarding the refinance process and/or any advice! 

In month 7 of my 203k loan reno on a duplex. Hoping to refinance out of the FHA loan and tap into the equity to acquire another project. Wanted to get some advice on which kind of loan to refi into (I.e. conventional, FHA streamline, etc) to get rid of the PMI if possible. Also what is the process like to tap into that equity? I've read that you can't do a cash out refi with FHA 203k but you can do a HELOC.

What did others do when the renovations were completed? 

Thanks so much in advance!  

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