Yes — borrowers often refinance from FHA, VA, USDA, or an existing conventional loan into a new conventional mortgage. The goal may be a lower rate, dropping mortgage insurance, cash-out, or switching loan terms.
A conventional refinance can simplify costs — especially when you have built equity.
Enough equity can let you refinance out of FHA mortgage insurance into conventional PMI rules — or no MI at 20% equity.
If market rates or your credit improved, a conventional refi may lower the monthly payment.
Conventional PMI cancellation rules are often more borrower-friendly than lifetime FHA MIP.
Conventional cash-out can fund renovations, debt consolidation, or other goals within LTV limits.
Shorten to 15 or 20 years, or keep 30 years to maximize payment relief.
A refinance still requires credit, income, equity, and a supporting appraisal in most cases.
We see these scenarios convert cleanly into conventional loans.
We start with goals — payment, MI removal, or cash — then match the product.
Step 1
Rate drop, MI removal, cash-out, or term change — each path has different LTV limits.
Step 2
We review value and payoff to see if conventional LTV guidelines work.
Step 3
Closing costs vs monthly savings shows whether refinancing pays off.
Step 4
Full documentation, appraisal (when required), and a new note replace the old loan.
Related guides to help you compare options and move toward pre-approval.
Lower rate or change terms without taking cash out.
Pull equity while refinancing into a new conventional loan.
LTV targets for refinancing and avoiding PMI.
Run a refinance comparison with Ryan or Steve.
2MG Daily
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Yes, if you meet conventional credit, income, and equity guidelines. Many borrowers do this to exit FHA mortgage insurance.
Often yes for a conventional refinance, though some limited waivers can apply depending on the investor and loan details.
Rate-and-term refis can go to higher LTVs than cash-out. Roughly 20% equity helps avoid PMI; cash-out usually needs more equity.
Similar underwriting applies, but occupancy, LTV caps, and seasoning rules differ by refinance type.
Share your current loan type and goals — Ryan or Steve will compare conventional options against keeping what you have.