Good Morning!If you have an FHA loan that means your mortgage insurance is permanent. It will always be part of your payment.
If you feel you have a 20% equity position or better in your property - it's a good time to refinance into a Conventional loan to get rid of your FHA MI.
It's a great time to do this because Conventional rates are at historical lows right now. The odds are your payment would drop significantly. ...or you can keep the same payment and drop the term of your loan to 20 years or 15 years.
If you would like to see if we can switch you over to a Conventional loan to lower your overall payment – just let us know.
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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