Posted on: 15th Jul, 2009 07:15 am
bought my house for 158,500.00 nov 2007. fixed rate 6.25 for 30 yr.owe 103,000.00 refi appraisal only 120,000.00 ....would have to pay PMI interest rate 5-5.25%.....current Princ and interest 701.00...should I refi since house value decreased..will i ever be able to ditch the PMI...I currently apply an extra 400.00 month to principle...any advice would be greatly appreciated Lee
Lee,
If you qualify for the DU Refi Plus program, then you would not need PMI
If you qualify for the DU Refi Plus program, then you would not need PMI
but i think i may amke too much....do you have anymore specs on this..thank you for your reply lee
Their isn't a cap on how much you can make. You just need to currently be serviced by Fannie Mae.
do you mean the loan owned by fannie mae when you say serviced?? thanks
Yes, guest, if its owned. :)
thanks for all the replies..very helpful