Can I refinance from FHA to conventional?
Yes. The most common reason: removing FHA's lifelong MIP. If the loan has appreciated enough that the new conventional LTV is below 80%, refinancing eliminates the monthly MI entirely. If between 80-97% LTV, the borrower trades MIP for PMI but still benefits if PMI is cheaper at the borrower's credit score.
What this actually means.
FHA-to-conventional refinance math: new rate vs old rate + old MIP + closing costs. Borrowers with strong credit (720+) often see meaningful PMI cost reduction even when LTV is still above 80%. Below 80% LTV, the refi eliminates monthly MI entirely — a real win. Compare a HELOC or rate-and-term refinance based on the file. Subject to Fannie/Freddie guidelines.
Where this can move.
Rate environment, equity, credit, current loan type, seasoning, AUS findings (appraisal waiver eligibility), and program rules can change the answer.
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More conventional questions on Refinance.
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.