In 2015 I bought my 1st home with an FHA loan. Ever since just over a year ago, I've been receiving letters from companies looking for me to either refinance or sell my home. Today I received a letter stating that my home value may have enough equity in it for me to be able to get out of having to make mortgage insurance payments. I'm assuming that's only possible via refinancing since I'm not at the 20% of the mortgage principle yet. Based on the emails I've received from Zillow and Redfin, my home is estimated to be valued at almost $50K more than I paid for it. While I could definitely use some of the equity in my home to take care of a few things I'm not familiar with what the pros and cons are for refinancing, whether I'd be seeing myself up to fail if I refinance too soon and what to expect as part of the refinancing process Can any of y'all shed some light on this?