So a couple of years ago my fiancé and I purchased a home because we were tired of paying someone else's mortgage(I know it isn't always the best option). We didn't have enough cash for a conventional mortgage so we had to go FHA. Fast forward two years and we have gained >20% equity. I would like to try and refinance to drop my PMI and roll that money directly to paying down principal because we purchased a house that was very conservatively in the range of what we could afford (based affordability on starting pay and now make 2x starting salary). Other things to note. I have ~$25k in student loans that I plan to pay off this year. We are getting married this summer (only mentioning this in case it would be better to refinance as married)
First, is it possible to do this or am I stuck paying PMI forever? Second, how would I go about achieving this?
Submitted April 10, 2017 at 11:17PM by LakersBitch http://ift.tt/2otu770
