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Is it too late to refi?
Posted on 9/3/13 at 6:27 pm
Posted on 9/3/13 at 6:27 pm
Finally have the ability to do so and am looking at our options. My initial scans don't seem to be too promising.
I've got a 30yr fixed FHA at 4.875% with a LTV of about 88%
I've got a 30yr fixed FHA at 4.875% with a LTV of about 88%
3
Posted on 9/3/13 at 6:31 pm to Golfer
Probably not. Seeing most 30 yr fixed in the mid to upper 4s. Also, if you refi into another FHA you may not be able to pull mortgage insurance off until the loan is paid off where you probably have the ability to currently do so.
Posted on 9/3/13 at 11:12 pm to Golfer
Run the numbers, simple as that. Depending on your situation it could still be an easy call one way or the other.
Posted on 9/4/13 at 9:56 am to Golfer
the only way a refi makes sense if you can drop the PMI, with an LTV off 88% you cant do that so its not going to make since, the current 30yr rate is the same as your current Rate, the FHA rate is around 4.25% but the FHA PMI is triple of what you pay know so that kills that option.
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