Скачать или смотреть Will refinancing break my current mortgage insurance?

🔍 Will refinancing break your mortgage insurance? One of the most common questions I get.

The answer depends on your current loan type and how much equity you’ve built.

🏡 If you have an FHA loan, the mortgage insurance usually stays for the life of the loan if the down payment is less than 10%, or for 11 years if the down payment is 10% or more.

But refinancing into a conventional loan with enough equity, can help you eliminate it.

📊 For conventional loans, PMI can be removed once you reach 20% equity.

But if you refinance before reaching that point, the clock might reset or the insurance might continue.

🧠 Bottom line: Mortgage insurance doesn’t automatically disappear just because you refinance.

But if your equity is solid, you might be able to remove it completely.

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