Is there such a thing as a "Guaranteed refinance" on an FHA mortgage?

BHS · Joined: 08 Sep 2008 Posts: 2 1.65 Dollars($)

I'm trying to purchase a modular home with cash out for other bills. I own my land out right but used it as down payment (collateral) to get approved. I have been told I can only get financing for cost of home: But if I close on this FHA loan I will be guaranteed refinancing after 6 months. Has anyone ever heard of such a thing.

adonis · Posted: Wed Sep 10, 2008 12:06 am Post subject:

Welcome BHS,

I don't think you can refinance right after 6 months or so. At least you'd have to wait for a year or so in order to refinance the FHA loan.

gmakerley · Posted: Wed Sep 10, 2008 6:52 am Post subject:

somebody is giving you a snow job. there isn't any possibility of refinancing 6 months after obtaining a new fha mortgage.

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