Just understand that if you only make your regular payment on your current 3.625% loan, you are adding approx 15 payments to the payoff date of your original purchase loan.
By adjusting your monthly payment slightly, you can stay on track and pay your existing loan off 15 months sooner, still a huge savings over your original payment amount.
Going from 4.625% to 3.625% and eliminating PMI is a nice huge bonus.
Your PMI probably dropped because you were between 80.00% and 85% rather than the 90%. The premium is lower below 85%
