Florida Mortgage Blog

Refinancing out of FHA loan to avoid PMI

August 27th, 2015 12:11 PM by Preston Ware

FHA is the go to loan program for many first time home buyers. If you already used the program many years ago you are aware that FHA requires you to pay the PMI for at least five years.

Newer FHA loans have PMI for the life of the loan.

The way to fix this situation is to refinance your FHA loan into a conventional loan when you get to 80% loan to value. http://www.prestonware.com/refinancemyfhaloan

On this page I also show you the math if you are in the first group, with the PMI limit at the five year mark.

Posted by Preston Ware on August 27th, 2015 12:11 PM


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