Refinance FHA to Step-Up Loan After 4 Years?

Executive Summary

$113,000 principal left on home Current interest rate 6.75% Rocket Mortgage owns the loan as of a year ago. They’re offering a Step Up loan at 4.99% for a year and then fixed at 5.99% for the remainder. No closing costs payment. Also drops Mortgage Insurance. Thoughts? Possible catches or negative...