Depending on when it was is 2012, you've probably knocked off about $10k in principal. So assuming you meant the purchase price was $206k, and you put 11% of that down you're looking at the following:

Current balance of roughly $173k, and LTV ratio of about 84%. This assumes the house still appraises for the same value as before.

Lots of factors to consider. How long you plan on staying there, how much cash do you have on hand to refinance and possibly come up with the difference to be at 78%, etc. Rates are on the upswing about .375% the last month or so also.

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Posted by SeaPickle

Thibodaux

Member since May 2011

3133 posts

Posted on 3/11/15 at 11:31 am to TigerDeBaiter

Home was purchased December 2012 for 206k. Loan was 184,6xx. Current principal is 177,3xx.
I guess the farm loan is the same as the RD loan. We plan on staying here for at least 5 more years. What cost besides a new appraisal am I looking at?

This post was edited on 3/11/15 at 11:34 am

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Posted by Teddy Ruxpin

Member since Oct 2006

39649 posts

Posted on 3/11/15 at 11:41 am to TigerDeBaiter

I need to get into the appraisal game.

I bought my house for 325k in May 2014. At that time it appraised for 345k.

Going through refi now 9 months later and of course was nervous, needed it to appraise for at least 340k. It appraises for 360k, which, I'm not complaining, gave me an even better deal than I had originally gotten from the new lender.

shite's hilarious. I don't believe any of these numbers, or maybe I'm just a real estate savant or blind luck.

This post was edited on 3/11/15 at 11:43 am

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