Can I refinance an fha to rid mip with a conventional loan

Hi Joe,yes, you can refinance a current FHA loan to a new loan that is Conventional and eliminate your mortgage insurance. In order to have no mortgage insurance on the new conventional loan, your loan to value must be at 80% or less. (there are some cases where clients loan to value is 90% or less and we can still have no mortgage insurance on that loan but that would be a case by case situation). If you would like to see if your loan is eligible to be refianced into a conventional loan and eliminate the mortgage insurance feel free to contact me for a free mortgage evaluation. I look forward to talking to you. Natasha Wall, Your lender for life, 303-907-9813

True. If your new loan-to-value ratio is 80% or less, and you meet the conventional loan requirements, you may refinance from an FHA loan with mortgage insurance to a conventional loan without it.

Hi Joe,yes, My name is Bob Jaeger and you can refinance from an FHA loan to a to Conventional and lower or even eliminate your mortgage insurance. In order to eliminate mortgage insurance with a conventional loan, your loan to value must be at 80% or less. If we are above 80% we would Mortgage Insurance and in most cases it is less then the FHA Mortgage Insurance. I can give you a free market approach on your property if you would like. My rates are very competitive. Please let me know if I can help. Bob Jaeger 720-339-3748

Yes, but every scenario is different.. If you in fact have 20% equity or more, you can refinance into a conventional mortgage and have no MI.. But if you don' have 20% equity, then there still might be some options for you.. If your FHA loan was initiated prior to June 2009, then the FHA MI is only .55% and the upfront MI is less than $100, and you could do a streamline refi with no appraisal and limited documentation. Understand that FHA MI is not based on LTV or Credit score.. it's the same fee for all borrowers. It's not that way with conventional.. if you go conventional and don't have 20% equity, you will pay mi, but depending on your equity position and your credit score, the MI could be as low as .30% or as high as 1.5% 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Yes, it is possible to re-fi from a FHA to a conventional to avoid MIP. It will depend on your LTV. Check with a local Lender for more details.

Yes, as long as you meet the qualification requirements and have built at least 20 percent equity in your home, then you can refinance to a conventional loan and eliminate mortgage insurance.

You have a number of different options as long as you have at least 5+% equity in the home. Ideally, 20% works best, but you can eliminate the monthly payment fairly easily with less equity. A good mortgage lender will review your situation and look at several options, as pointed out above, depending on how old your FHA loan is you may be able to quickly and easily refinance and lower both the rate and monthly payment.

Sure...

Yes it is Joe. Even if you don't have 20% equity in the property there are a few options available. If you would like more information or have some additional questions you can call me at 720-457-5531 or email me at loanofficerseanyoung@gmail.com. Best wishes, Sean