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I have an FHA loan with PMI and want to get rid of the PMI. My credit score is 677. Is that possible?

By andelgirl740 from IL Mar 26th 2015
Reply

Yes it is possible. Is this a single family home?How much equity do you have?Terry TaitelResource Plus Mortgage847-359-5300

Mar 26th 2015

This is Terry again.I am right here in Palatine.Please give me a call 847-359-5300

Mar 26th 2015

More info would be needed... for FHA, if you have had your loan for more than a few years, then it usually drops off once you're loan amount reaches 78% of the original appraised value. To go with conventional financing, you would need to refinance, and you would need 20% equity to avoid paying PMI... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 26th 2015

Yes, if your loan balance is less than 80% of the current house value. Feel free to reach out at your convenience and I can help you with any other questions you may have! Jim Schaefer Gold Star Financial - 612.501.5113 Thanks in advance.

Mar 26th 2015

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