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re: Home Loan - Refi vs PMI Question
Posted on 3/11/15 at 12:00 pm to LSUFanHouston
Posted on 3/11/15 at 12:00 pm to LSUFanHouston
I guess my next step is to verify Farm Loan = RD or not.
1
Posted on 3/11/15 at 12:41 pm to SeaPickle
Just ball parking but assuming you owe 170k I'd expect a refi to cost somewhere in the 4-5k range. For this exercise let's split and say $4500
4500/61 = 73.7 months, so your break even on Financing out strictly to remove PMI is just over 6 years, plus restarting amortization of loan.
4500/61 = 73.7 months, so your break even on Financing out strictly to remove PMI is just over 6 years, plus restarting amortization of loan.
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