Common questions
What is a conventional loan?
A mortgage that is not insured by a government agency, usually sold to Fannie Mae or Freddie Mac.
Can I remove PMI without refinancing?
Often yes. The Homeowners Protection Act and servicer policies set the rules.
Does refinancing reset my loan term?
Only if you choose a new term of the same length. You can choose a shorter term.
What if I am behind on payments?
Contact your servicer and a HUD-approved housing counselor about options.