Questions about the value of refinancing my mortgage when paying MIP?

Hello! A couple of years ago I was able to assume my mortgage loan from the previous owner for a 3.625% interest rate which at the time I was happy about. It also allowed me to save some money on closing costs to take this approach. What I didnt realize at the time is that it was an FHA loan with MIP included as a fixed cost for the life of the loan. At this point I want to discuss the value of refinancing to have that value removed.

Loan specs:

Original Principal Balance: $113,682.00 Outstanding Principal Balance: $90,221.32 Loan Origination Date06/24/2013 Loan Maturity Date07/01/2043 Interest Rate: 3.625% Loan Type: FHA

My monthly payment is 2200 because I want to pay this thing off as soon as possible. I know a lot of people would prefer I invest at least some of that monthly payment into my retirement portfolio which would for sure provide the highest ROI but I would rather have the comfort of owning my own home.

In my situation the MIP is about 49 a month. Does refinancing make sense?

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