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How much FHA CAN REFINANCE IS THERE A MAX. DO THEY DO JUMBLE LOANS. CAN ONE REFINANCE SECOND MORGAGE

  • November 04 2009 - Niles
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The max FHA loan amount depends on what county your home is located in. If your second mortgage is at least a year old, and/or if you have not borrowed against it anytime in the last 12 months, you can combine both the first and second mortgage into one new mortgage provided you do not exceed 97.75% of the value of the home. If you have borrowed against the second mortgage in the last 12 months and/or the second mortgage is less than 12 months old, then you will be limited to 85% of the value of the home. Other restrictions apply (property type, credit, etc.) If you exceed the maximum, you can have the 2nd mortgage subordinated to the new first mortgage. You should be aware that additional restrictions go into effect November 17, 2009.
  • November 04 2009
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Each county has a different limit, right now max amount is 729750, but your county limit might be lower.

You can combine a second.  If your second is over one year old, you can combine up to 97.5% of current property value.   If your second is less than one year old, max base loan would be 85% of property value.
  • November 04 2009
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