If you are on a FHA home loan program and have a rate higher than 4.5% weather it is a fix or an adjustable loan, you need to explore your option to refinance into a lower fix rate. FHA has this built in option, if the rates fall to where there is a 5% benefit of your PI and MI payment then you can take advantage of the lower rate. The best part about it it, your next mortgage payment you will have to make will be at a savings and the other nice part about the refinance is, there is NO appraisal needed on the home. Any homeowner in the Southern California in need of this service, do not hesitate another moment to contact me at 909-503-5600 to discuss this option.