Should I switch from FHA to a VA loan?
I finally have enough equity to refinance out of my FHA loan, and now I’m not sure if I should switch to a VA loan. The VA loan would get rid of my $165/month FHA mortgage insurance, but the interest rate is a little higher. My lender also showed me an FHA refinance with a lower rate, so the monthly payment is about $60 less than the VA option.
The part that's making this hard is that my wife and I aren't completely sure how long we'll stay in this house. We could end up moving in four or five years or we might be here a lot longer. What do you think works better? Should we switch to a VA loan or just go with FHA?