If you have an FHA loan that means your mortgage insurance is permanent. It will always be part of your payment.
The way property has appreciated in the past year – it’s probably a good idea to see if you have 20% equity in your house.
If you feel you have a 20% equity position or better in your property it’s not a bad idea to look into refinancing to a Conventional mortgage to get rid of the FHA MI.
As low as rates are right now I think there’s also a good chance you could lower your overall rate.
If you would like us to check on this for you just shoot us an email or give us a call.
We’ll be happy to help you out!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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