<prompt> Human: Please excuse me Im so confused with all of this.My husband and I bought a home in July of 2013. It was a fixer upper that we purchased for 35000 on a 203k FHA loan program and spent a good 60k fixing up. We were alone and completely new and ignorant of the process and trusted our loan officer to help us along. We had 10k for a down payment that he told us not to bother with and that we should save. Well now we are stuck paying PMI. He told us once the loan hit 80 loan to value we could have it removed so it wasnt a huge deal, we knew We would hit the value really quickly and I liked the idea of having some savings to start out. We come to find out this is not true and it is for the life of the loan!!Now Im stuck, I dont want PMI anymore but I have an awesome interest rate 3.8 fixed 30 year. Does it make sense to stay with this loan and pay the 104 a month extra for PMI or refinance rates are over 4 in my area now.I owe about 94,000 on the house.It was appraised before the renovations at 119,000 I purchased it from familyNow that its done its worth at least 130,000 if not much higher, Im trying to be really conservative.  <response>: Since you bought after June 2013, its for the life of the loan. Refinance into a 15 year or 20 year loan and youll get under 4. 