Is it a good idea to refinance and change from FHA so there’s no PMI?

I’m 60+ yo, lived in my house for 12 yrs. My interest rate is excellent 5.25% on FHA so I’ve been paying PMI since I refinanced in 2004. I don’t plot to go in the next 5 years. Is it a excellent thought to refi now to get out of paying PMI? What other types of loans are there? Is it better to go for a 15/yr mortage or 30/yr when refinancing?

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