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Did streamlined FHA refi last fall, now PMI rates are lower.

We originally purchased our home with an FHA loan in 2008.  In late 2011, we completed a streamlined refi with Wells Fargo, but are stuck paying about $200 / mo in PMI. Now this year, you can do the streamlined refi at much lower PMI rates, if your mortgage was endorsed before May 31, 2009. My question is, did we disqualify ourselves from being able to refi at the lower PMI rates because we already refinanced last year?
  • September 17 2012 - Dayton
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Answers (1)

Greetings,

Unfortunately, yes, you are correct.  Since you have already refinanced you wouldn't be able to take advantage of the lower PMI percentage.  The loan to be refinanced has to be endorsed prior to 5/31/2009.

  • September 17 2012
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