FHA StreamlineMy mortgage broker told me he can refi me from 5% down to 3.75% with a FHA streamline. Told me there would be no costs, I would just need to sign documents. I have only been in the house for 2 years. He mentioned my payments will go down about 250 a month, The way he explained it my PMI would go up but my mortgage payment would go down. Wouldnt this mean it would take me longer to get below 80% to wipe out PMI. Does it make sense to do a refi so early in a mortgage? Am I missing something?January 30 2012 - Longmont11YesReport 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.