Hello Jodi !
Mortgage Insurance and Refinancing are not necessarily tied to each other.
Mortgage Insurance ( MI ) has both a time (number of minimum years) and equity target (usually 21%) . If BOTH are met, then its a matter of filling out an application and submitting supporting sales data to you present lender to have them process and remove the MI.
Please call your lender to ask how many years MINIMUM was your MI suppose to be for - then double check against your loan documents (ask them what page they are looking at for answer).
If you are still within the years of forced MI , AND you have the 21% equity - then you have to consider the amount of monthly MI vs how many months left - vs cost of refinancing and end results with refi. - A refi with 21% equity should get you a new loan without MI from the start.
I have a really honest and upfront loan officer I could recommend you to. I shop him for all of my clients and he still comes up on top --
Call or Email me for his info:
Most Kindest Regards,
KELLER WILLIAMS REALTY
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