Skip to Main Content

/assets/1/14/NewsDimensionHeading/FHA-Refi-Header1.jpg

Have You Heard? Refinance and remove FHA Mortgage Insurance

Refinancing your FHA loan to a conventional mortgage may clear room in your monthly budget, especially with interest rates hovering at historic lows. Removing FHA monthly mortgage insurance, it could result in a lower monthly payment and big savings.
 

FHA Mortgage Insurance

Refinancing your FHA mortgage to a conventional mortgage, you may be able to get a lower rate and/or eliminate your monthly mortgage insurance. FHA monthly mortgage insurance is paid for the life of the loan regardless of how much equity you have, unlike a conventional mortgage.

vs


Conventional Mortgages

Conventional loans allow mortgage insurance to be cancelled once you owe less than 80% of the home’s value and that is 80% of its current value, not what you paid for it. With today’s rising home values, you may be surprised how much equity you have.
 

How Much Equity Do I Have?

To establish 20% equity, you can either have a home appraisal that states you have 20% equity in your home (usually conducted during the refinance process) or pay down your current loan down to get to 20% equity.
 
Contact us today for a mortgage review to discuss your refinance options.
 
 

« Back

 
What Do I Need To Apply?
Application-Callout
See what you need to get started.

Find a Loan Officer

We have the best solution for your mortgage needs:
 
close (X)