Jul 28, 2017 · 1 min read
3.5% down screams FHA to me. If that’s the case, have you looked at a streamline refi? If you’ve hit 20% you should look into it to drop the PMI. FHAs, unlike most conventional products, keep charging you PMI even when that risk has passed. I know on my mortgage that’s $95 a month, so once I hit that mark, if the math works, it will be a lot better to chuck that at principal than keep throwing it into the PMI hole when I’m no longer a “default risk.”
