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re: PMI
Posted on 2/28/15 at 7:02 am to seawolf06
Posted on 2/28/15 at 7:02 am to seawolf06
I have a pmi question as well and figure this may be a good thread to ask it.
My original mortgage is from 2012 @ 3.75% I know that the pmi rate is lower now than it has been in years. I only plan to be in my house for ~5 more years. Considering refinancing to cut my pmi for the next 5 years even though my interest will be higher. I'm really just worried about closing cost. Thoughts?
My original mortgage is from 2012 @ 3.75% I know that the pmi rate is lower now than it has been in years. I only plan to be in my house for ~5 more years. Considering refinancing to cut my pmi for the next 5 years even though my interest will be higher. I'm really just worried about closing cost. Thoughts?
1
Posted on 2/28/15 at 9:37 pm to LSU6262
Funny how there are lots of changes going around right now. I purchased my current home in July of 13. Got a 4.25 rate. Funny thing is rates were at 3.75 for a year and when we were ready to lock in, rates jumped to 4.75 over night. Dropped a few days after and we went with the 4.25%. about a month ago, my morgtage company called me, offering me a refi with a 3.85 rate for same term I have now, Lower PMI percentage, will pay any escrow shortage and no closing cost. They did everything and I literally talked to them twice for a total of 5 min. Sent a notary to my home to sign the docs and it was complete. Saved me about 250 a month.
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