refi without PMIHouse recently appraised for $440k, have a single 5.5% 30y fixed with $397k remaining, paying PMI. What is my best option to lower payment without spending a lot at closing? I'm comfortable with 5/1 ARM given that we'd like to move within 2 years. We have excellent credit and income.September 08 2011 - Durham00YesReport 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.