Refinance
Can I refinance an FHA loan to conventional?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes, and it's a common move to escape FHA's lifelong mortgage insurance. Once you have 20% equity and a 620-plus score, refinancing to conventional eliminates the FHA premium and can lower your payment.
Florida's rising values often get FHA owners to 20% equity within a few years. We'll confirm your equity and run the numbers to see how much shedding the FHA premium saves.
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