Can I convert my FHA loan to a Conventional Loan?

Hi Jeannine! I would be happy to review your options with you offline if you'd like. This would be a "No Obligation Review", so let me know if you would like some help! You can send me a direct message through Lender411 if you want to discuss this in more detail. Enjoy the day!

Yes.. but it's not a "conversion", it's called a refinance.. your home will have to be appraised, and you would be subject to today's interest rates, and it's a fully qualifying refinance, so all the paperwork you had to provide when you first got your loan, will have to be provided for the new loan. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Assuming you qualify, sure... You can refinance into a conventional loan.

There is no direct conversion process, but you are free to apply for a convntional refinance at any time.

Hi JeanineMy office is in Cherry Hill. Please give me a call.Sharon732 606 6264

You can refinance into a conventional loan. You should make sure that the payments are less without the MI at the current rate, though chances are that it is less.

There is no conversion process for FHA loans however, you can refinance to a conventional loan.

Yes, you just "refinance". As others have mentioned, there's no conversion available. Also, you cannot "streamline" refinance. That means when you apply for financing an appraisal will be required. With conventional, you should be able to pay off your mortgage, plus cover any/all closing costs by rolling those in to the loan. That's providing you have the equity to be able to do so. Best, Kim Lawson Ohio Licensed Loan Originator, Licensing and contact information is located on my profile.

Yes, you can if you meet the qualification requirements to refinance to a conventional loan.

Jeannine -- when the balance on your mortgage compared to the value of your home (based on your purchase price) reaches 78%, your PMI will drop off. This is generally in about 5-8 years depending on the down payment you used to purchase it. You will definitely want to check with a local, licensed mortgage professional to make sure that you have the needed equity, and that a refinance into a conventional loan will eliminate the Mortgage Insurance, and that your interest rate will also move in a positive manner from where you are, before you commit to doing the refinance.

If your FHA loan was obtained 5 years ago, and you have 22% in equity, you may be able to call your current lender and have them remove the PMI without refinancing.

You can refinance. We are a NJ/PA BankSun National Bank is a Federally Chartered Bank who can lend nationwide. To better help you, I would like to see your financial situation.Please send me the following information for all borrowers:1. 1 Month of current pay stub's2. 2 Year W-2 Income Statements3. 2 Year 1040 Federal Tax Returns4. 2 Year Business Tax Returns5. 3 Months of current Bank Statements (if you own a business)6. Copy of Drivers Licenses Please forward them to:James Mazzola8 Matthew AvenueKendall Park, NJ 08824jmazzola@sunnb.com or cornoil@comcast.netIf you have any questions, please do not hesitate to contact me:(O) 973-805-4107(C) 732-501-4249(F) 732-951-0629Thank you,James Mazzola

Hi, I am with Monument Mortgage, a local company, and we can refinance your mortgage with no PMI, probably at a lower interest rate and save you money every month. I'd be happy to meet you and go over your options and discuss. Please contact me at 215-272-1157 or andrea@monumentmortgage.netThanks!Andrea