<prompt> Human: My mortgage company keeps calling me, wanting me to refinance in order to take advantage of a law that was passed to lower my mortgage insurance. When I find out more information, theyre actually wanting to switch my FHA loan to a regular loan, due to the appreciation of my house since I bought it 2 years ago. So I have two questions:Is this worth it? My current rate is 3.75, and I know that rates have been going up. The loan officer says the higher rate would still be cheaper each month, because I wouldnt have the mortgage insurance at all.Would I need a down payment of any kind? Im currently working on a debt reduction plan, and dont have anything resembling a down payment available at the moment.Thank you for your time!  <response>: No one here can tell you whether to refinance or not without information about your current mortgage. What is your current rate, current principle, current PMI? If you refinance what interest rate would you get? All you need to do is do the math for the cost of keeping current mortgage and paying PMI vs refinancing. 