Co-sign FHA loan Financing
Hello BP community I have a question regarding FHA loan financing.
I'm looking to house hack a duplex in the Milwaukee, Wisconsin area. I would like to get an FHA approved loan to purchase said property. Unfortunately I will need a co-signer to get approved for this type of loan. My question is once I have 20% equity into this property can I refinance into a conventional loan and remove the PMI insurance? And also can I remove the co-signer from the loan and take out that money once I've refinanced? I'm trying to plan my next steps once I purchase the property.
Thanks again for your help!