by Shelly
(Michigan USA)
Regarding Private Mortgage Insurance Questions: I'm looking to refinance and was wondering which option might prove more beneficial FHA or Obama's Home Affordable. FHA has the MIP and HA has the PMI. FHA has a 95% LTV and HA has an 125% LTV.
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Are there other programs that I could use to refinance and avoid PMI or MIP? I have a good credit score and never have missed any payments. My house value is $144,000---down from $172,000 from 7 years ago. I'm looking to save on the monthly payments and/or lower my current PMI.
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