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Private Lending & Conventional Mortgage Advice

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28
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Josh C.
  • Real Estate Investor
  • Lewis Center, OH
9
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28
Posts

Waiting period to refinance an FHA 203k loan?

Josh C.
  • Real Estate Investor
  • Lewis Center, OH
Posted Apr 2 2015, 11:53

I bought a HUD property and financed the mortgage and repairs with a 203k loan. The lender told me that I had to wait a year before I could refinance and get rid of PMI. From everything I have learned on BP, I believe he lied or that he meant I had to wait a year to refinance if staying with his lending company. Does anyone know? Could I have refinanced immediately after the repairs were complete if I went to a different lender?

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