Temecula CA Real Estate News and Information!

For years we were always told that you MUST have PMI (Private Mortgage Insurance) when you get an FHA loan. It was a necessary evil but often added a significant amount to your mortgage payment if the entire amount is not pre-paid in your closing costs. What we were often NOT told is that once you refinance to a NON-FHA loan or have the PMI removed when you reach 20% equity in your home you are due a refund of any PRE-Paid Private Mortgage Insurance (PMI). If you have refinanced an FHA mortgage...