Is a refi to a conventional loan possible?I closed on a new home on 12/3/08. Purchase price on the home was $260,400 and I put 3% down on an FHA loan at 6%. The house appraised for $335,000 last week and the current loan balance is $256,000. Are there any lenders that will use the appraised value rather than the purchase price since I've been in the home for less than 6 months? I'd love to lower my interest rate and get rid of PMI. Thanks!April 17 2009 - Northwest Raleigh00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.