+1 vote
Its been almost 1 year 6 months to my FHA loan, and I was told that I can cancel my PMI and reduce payments. How would that work?
asked Jun 19 in FHA Loans by anonymous

1 Answer

0 votes
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.

~Quiana Williams
Quiana@USA-Mortgage.com
PH: (760)440-8844
Download the mobile app to get started today: Http://mtgpro.co/QTERA
answered Jun 19 by QuianaWilliams (11,350 points)
482 questions
637 answers
884 users