How does a refinancing loan work on an FHA mortgage?
I have an FHA loan for $ 25,000……House is worth much more, especially after the repairs we did. House sold at least 3 different times between 1995 and 2006 for approximately $ 100,000.
I am guessing it is at least appraised for $ 65,000 right now….
I still have 29 years left on the mortgage. How does refinancing work (what kind of loan would I get in $ terms), and what do I need to get approved?