Pose a question to your lender throughout installment loans Augusta the non-PMI loan applications
“Once enough security has established up on your property, refinancing away from an enthusiastic FHA or antique mortgage to a new traditional mortgage carry out dump MIP otherwise PMI money,” claims Wendy Stockwell, Vice president from procedures support and you may equipment innovation during the Accept Lenders. “This can be you can for as long as their LTV is at 80% otherwise faster.”
Stockwell notes that it is as well as possible to help you re-finance towards the another program – one which doesn’t require MIP or PMI, despite a keen LTV more than 80%.