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re: Should I Refinance - Please Help!
Posted on 3/31/09 at 11:18 am to Mandocello
Posted on 3/31/09 at 11:18 am to Mandocello
I believe FHA requires MIP to be on for 5 years and then you have to have 78% LTV.....you need to calculate how much closing cost would be as opposed to how many years of paying mip to get to 78%
1
Posted on 3/31/09 at 11:21 am to West Monroe
Yep, they force you to keep PMI for 5 years minimum, and 20% of the principal must be paid (I checked with mortgage company a few days ago).
Very unlikely that I could get the principal down that low in the next year and a half - it would take much, much longer than that.
Does having outstanding credit scores help with the refinancing rate??
Very unlikely that I could get the principal down that low in the next year and a half - it would take much, much longer than that.
Does having outstanding credit scores help with the refinancing rate??
This post was edited on 3/31/09 at 11:22 am
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