How can I pay off my down payment assistance when I refinance my home? With a simple interest loan perhaps?

Posted on Oct 18, 2023 in FHA Information

fha refinance
by marsmet526

Question by hotguyfromrincon: How can I pay off my down payment assistance when I refinance my home? With a simple interest loan perhaps?
I have an FHA loan at 6.5%

I obtained down payment assistance from Cal HFA for $ 8200 which doesn’t need to be paid back until I sell or refinance the house.

Looking to do an FHA streamline refinance but don’t think my down payment assistance of $ 8200 can be subordinated onto new loan.

Best answer:

Answer by Pojo
Why not call and ask your lender what is and is not possible on YOUR particular loan?

Good luck

What do you think? Answer below!

2 Comments

  1. marathon316 February 4, 2013

    Here’s some great short articles on home refinance…

  2. Ray Smith February 4, 2013

    I think you have contact your mortgage lender he can give you the exact solution of your question. You can find some online sources where you can get refinance home loan.