Yes, it is possible to refinance your conventional mortgage into an FHA loan, and the rates are comparable to conventional loans. Refinancing into an FHA loan might be a solid option if you have spotty credit, as these loans have less stringent credit requirements. But the trade-off is that FHA loans come with upfront and recurring mortgage insurance premiums. Talk to your AAG professional about whether refinancing into an FHA loan makes sense for you.
Can I refinance with an FHA loan?
May 2, 2018