Updated over 12 years ago on . Most recent reply
PMI
Hello All,
Scenario: First time home buyer (Monrovia, CA) qualified for a FHA loan at about 4.25% interest. With that came a 5 year PMI. 2.5 years into homeownership and there is over 20% equity in the home (appreciation included) and wondering if there is a way to rid the PMI without refinancing. Interest rates are higher now and adding years with a new mortgage is not in the best interest. Any thoughts?