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When to refi to conventional?

New Member

When to refi to conventional?

Hello all,


I'm purchasing my 2nd home after selling our first one in June 2017 and going FHA due to the lower 3.5% down payment. We are purchasing the home for $248,500 and it appraised at 250k, financing 243k-ish. My wife is a teacher that can qualify for a grant that helps with a down payment and/or closing costs and we were told this works for a refi. At what time would it be great to do this and is it worth the cost or wait and pay down the house a bit more?

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Frequent Contributor

Re: When to refi to conventional?

It depends on the offer (rate and points) you are getting for FHA loan vs conventional loan. Have you gotten these quotes?
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