Zillow Advice: Refinance - which is a better option if you qualify for both Making Home Affordable and FHA? http://www.zillow.com/advice-thread/which-is-a-better-option-if-you-qualify-for-both-Making-Home-Affordable-and-FHA/357143/ Zillow Advice | Zillow Real Estate If your current loan does ... http://www.zillow.com/advice-thread/which-is-a-better-option-if-you-qualify-for-both-Making-Home-Affordable-and-FHA/357143/ If your current loan <strong>does not</strong> have month mortgage insurance, then the Making Home Affordable plan will be better for you.&nbsp; If you do pay monthly mortgage insurance now, then I would go with FHA at the lower rate.&nbsp; The reason being that FHA's monthly mortgage insurance rate will be about the same or better than what you are paying now and you get a lower rate to boot.<br/><br/>Paul&nbsp; Fri, 09 Jul 2010 18:07:00 GMT http://www.zillow.com/advice-thread/which-is-a-better-option-if-you-qualify-for-both-Making-Home-Affordable-and-FHA/357143/ 2010-07-09T18:07:00Z