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Updated almost 7 years ago,
FHA loan vs Conventional loan
I currently have a FHA $200,000 loan with an interest rate of 3.375% with a pmi flat fee of .85% ($141) of original loan amount. I want get a conventional loan to drop my PMI payment of $141 per month. However, the conventional loan rate is currently about 4.25%.
Should I stay with my current FHA loan or switch to conventional loan?