Conventional Refinance

 

Conventional refinance mortgage loan options for homeowners

Are you considering a home refinance? Conventional refinance loans are the bread and butter of refinance business. In other words, conventional loans are the most common type of loan, and conventional financing just means the loan is not made or insured by the Federal Housing Administration (FHA). Conventional refinance loans have distinct advantages such as:

  • Options Galore! You can refinance your primary residence, second home, or rental property

  • Take Your Pick. You have the choice of fixed rates, adjustable rates (ARMs), and loan-term options from 10-30 years

  • Save Some Dough. Mortgage insurance costs less than with government loans and can be cancelled when your home equity reaches 20% if certain conditions are met

 

Contact a mortgage loan professional in your area to learn about the loan application process.

 

All loan requests are subject to credit approval as well as specific loan program requirements and guidelines. With Adjustable Rate Mortgage loans, the rate is variable and may increase or decrease every year after the initial fixed rate period based on changes to an index. This could result in an increase in the monthly payment.