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Can I usa an FHA loan to refinance the mortgage on a property on a home I inherited?

Answer

A property in which the FHA loan applicant has inherited can be refinanced with an FHA mortgage as long as the borrower has legal title to the property and is occupying the property as his/her principal residence. An inherited property is eligible for either a cash out or a no cash out refinance, subject to applicable FHA requirements. Because the property was inherited, FHA's requirement that the original sales price be used in the maximum mortgage calculation if acquired less than one year prior to the date of the borrower's loan application will not apply.

Handbook 4155.1: 3.A.1.a; 3.B.1.a, b,e; 3.B.2.a; 3.B.2.f
 

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