is it possible to refinance to take advantage of the current rates with little to no equity?I currently have an fha loan for 243000 at 4.375%. My current balance is 238000 I have only been in the loan for a little over a year. My brother and my self are currently on the loan. He has found himself an other place and pretty much wants out of the loan. I would like to refinance the loan to see if I can get a lower payment taking advantage of the current low rates and at the same time do the loan by myself. I know that both my credit and income will qualify me to do it by myself but im not so sure that my home would even appraised at my current balance. What would be the smart thing to do here I know I can streamline the loan without having to get an appraisal but would still have keep my brother on the loan. Now is there a way to take him out of the loan and at the same time refinance at a lower rate in order to see monthly savings?? Thanks any help would be appreciatedNovember 14 2012 - Pomona00YesReport 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.