ON THE HARP PROGRAM DO YOU NEED PMI?

If your current loan does not have mortgage insurance, then your new loan will not require MI. If you have MI, then it would be required on the new loan.

For HARP refi's if you currently have PMI on your loan, then it would be transferred to the new loan and continue.. Your lender must allow for MI transfers in order to accomplish this, and understand that not all lenders will do HARP refi's with MI, so check before you apply.. If you don't have MI now, it will not be required on the new loan regardless of your loan to value.. 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

If you do not have PMI now then you will not have after the refinance.