Refi to drop mortgage insurance?

Anonymous
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Wow, this is timely. I was just sent an alert to review my escrow statement. As I was reviewing my account, (not statement), I noticed my FHA will expire August 1.

We purchased in 2015, and re-fied in 2016 in hopes of eliminating PMI, but no such luck. My wife's spending and credit are a shit-show. Here's hoping we can drop it.

Our purchase price was $710, and we owe $555, so we're actually at having 22% equity/78% owing.

I've had nothing but bad luck in 2018, so it probably always shows that it's expiring for some technical reason, I've never looked closely.


Has your home’s value gone up? The purchase price at this point is irrelevant.


True, good call. The short answer is yes, according to every single website out there, but does that matter? To the lender I mean. Or would an appraisal be required? I reached out to their chat window yesterday and they said as much.

If you refinance an appraisal is required.
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