Conventional refinance loans are loans not made or insured by the Federal Housing Administration (FHA). Conventional refinance loans have distinct advantages such as:
- Options Galore. You can refinance whether it be your primary residence, second home or rental proterty.
- Take Your Pick. You have the choice of fixed rates, adjustable rates (ARMs), and loan-term options from 10-30 years
- Save Some Money. Mortgage insurance costs less than with government loans and can be cancelled when your home equity reaches 20%.