The underwriter bases your fee off of how much you qualify for, your credit score and history."  

You'll have to talk to a lender to know how qualified you are personally, but you'd probably be surprised what you qualify for. 

Bad debts, such as credit cards, do not have any tax benefits, despite the outrageously high interest rates, and can be a blocker to qualifying for conventional financing.

For the privilege of the refi, you'll also pay thousands in closing costs, not to mention the pain and headaches dealing with qualifying again.I would figure out what the payment difference is between your current 15 and a new 30 (at a higher interest rate most likely) and cut that from your budget.  

I argued that this does not qualify as an absentee owner list.  

I suppose if you can qualify for a conventional mortgage that would be best; however many people don't qualify for conventional mortgages with the new rules and regulations.

I do not plan on moving out of my current home.Also, if you make more than 80% of the median income level of the property you are looking at, then you DO NOT qualify for this type of financing?

If you have a 1980's split level that just needs a $20k "refresh" but is otherwise totally inhabitable, a bank can lend on that assuming it will be a primary residence or you have enough money down to qualify for an investment loan (30% typically). 

Individuals who change jobs frequently, but who are nevertheless able to earn consistent and predictable income, are also considered to have a reliable flow of income for qualifying purposes.   

I have qualified for an FHA loan at the maximum 3-unit (will also work on 4) in cook county but am priced out of many areas in Chicago closer to downtown with FHA unfortunately.