We have a FHA Mortgage with 0 down. We have paid on our mortgage for 2 years. Can we refinance the FHA to low?

Posted on Aug 10, 2012 in FHA Information

Question by Boatalot: We have a FHA Mortgage with 0 down. We have paid on our mortgage for 2 years. Can we refinance the FHA to low?
We’d like to refinance the FHA mortgage to a lower interest rate. Can we do this since we don’t have 20% of the 30 year mortgage paid down yet? Any tips we should know about?

Best answer:

Answer by Vegas
Most banks now require 20% equity. Good luck finding one. It may be hard though.

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