Yes. A high loan-to-value doesn't disqualify a refinance that saves money; the main driver is the monthly savings, not how much equity you've built. Say you drop from an illustrative 7% to 6% on the same loan. Even if your mortgage insurance cost stays about the same because your LTV hasn't moved much, the lower rate alone puts real money back in your pocket every month. That savings stands on its own. You don't need to have crossed into a lower-equity tier first. Sometimes there's a bonus. A refinance can also move you into a lower LTV tier, where mortgage insurance gets cheaper or, at a certain equity level, drops off entirely. When that lines up, it stacks on top of the rate savings and makes the deal better. Treat it as upside, though. If you're still at high LTV, the rate improvement by itself can justify the move. The test is the same as any refinance: what does it cost, and how fast do the monthly savings earn that back? A no-cost refinance has essentially no break-even, so even a modest improvement can pay off from the first payment. Nobody can promise where rates go, so set a realistic target, watch for it, and act when the math clears. We can run your specific numbers on the free Roadmap conversation.