Refinance Options - Remove PMII'm looking for an option to refinance and remove PMI. Here's the scenario: 1 Year ago I purchased a home as a short sale. It appraised for $222k and was purchased for $195k with $10k down. With little principle payed over the last year I am currently sitting on an FHA loan with a $185ish balance. The question is, can I refinance and find a better rate than 4.5% (30yr fixed) while also dropping the PMI? I am hoping the loan 20% requirement would use an appraisal as the baseline for equity calculations.Thanks in advanceSeptember 18 2012 - US00YesReport 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.