This is the number one reason people refinance their home. FHA loans closed after June 2013 have mortgage insurance for the life of the loan unless you made an initial down payment of 10% or more; You can do a FHA Streamline Loan with no appraisal, income, or credit score requirements.
You can also refinance into a conventional mortgage and eliminate the MIP entirely. If you would like to know what your new payment would look like please feel free to contact me or ask me anymore questions. I am Quiana Williams will USA Mortgage the lender with no overlays.
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