Convert FHA to Conventional Loan, drop PMI?I'd like to refinance/convert my FHA loan (1 year old) to conventional in order to drop my very high PMI payments. I only put down 3 1/2%, but according to Zillow, the value of my home has gone up about $150K. I'm not sure how accurate this is, but recent comps are at least $50K higher than my loan. Can I use the appreciation to put me over 20% and qualify for a loan with no PMI?Thanks!June 02 2013 - Studio City00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.