Hello,I am Stewart Olney, and I just stumbled upon this wonderful website the other day. I live in Harper Woods, which is sandwiched between the Grosse Pointe communities and Detroit. I am currently in pharmacy school...

FHA rates are as low as 3.375% + MI or .85% at the most you'd be looking at 4.225% as a blended rate if you have good equity and decent fico scores.I hope this helps and have a great day. 

Quick Back Story:My wife and I moved from Michigan to Texas in September and have had our condo up for sale since.

I am getting close w a couple deals but having an issue finding a title company in Oakland County Michigan.  

LLC's are pretty cheap here in Michigan and that would add a layer of protection for both of us. 

@Mike M. I

Yolanda Estrada An FHA cash out refinance is going to be maxed at 85% LTV (loan to value) and for a conventional loan it's going to be 80% so cash out is out of the question.Now if you do an FHA streamline then you should be able to save a decent amount as your MI will go down by .5% and streamline rates are around 3.5%.

Originally posted by @Eric M. .:I

I know that the midwest (Michigan and Ohio) and Florida (parts) are where they are going.You really should be getting over 100% COC return.  

Hello @Garrett M. I