How soon could I refinance after I purchase to get rid of MIP?

More info needed,, specifically, what type of loan product do you have now? If you have an FHA or USDA loan, then the mortgage insurance can only be removed by refinancing.. it will not drop off ever.. For conventional, there are 3 ways.. First,, if you want to leave your existing loan in place, but request the MI be removed, then you have to wait a minimum of 2 years.. and you must have 20% equity or more (supported by an appraisal you pay for)., and you cannot have any 30 day late payments in the past 12 months.. then you can contact your lender and ask them to remove the MI.. so long as you meet the conditions, it will be removed., and you don't have to refinance to do it.. 2nd, you can wait till you reach 78% of your original loan amount.. (typically at 60 months or so).. then the MI will either drop off automatically, or you could get a drastically reduced rate.. (depending on what your lender selected when you originated your loan).. 3rd, if you get to 20% equity quicker than 2 years, but more than 6 months., then you have to refinance, pay for an appraisal, and so long as you have 20% equity or more.. then you would be fine.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893