Bought my home 2 years ago for 216,000. I owe about 211,000 on it now, i did a Combo loan 1st and 2nd mortgage, not sure if that was a excellent go or not. 1st mortgage rate is 6.125% at 162K and second mortgage rate is 8.875% at 54K. If i refinance i have to pay closing cost which will be like 6K, which will place me farther back than what i originally paid for the damn house (216,000) I just got offered 5% with one of those FHA Express loans , not sure if im gonna do it.
FHA Express: Rate is fixed. The payment on a 3,000, 30-year fixed rate loan at 5.00% and 80% loan-to-value (LTV) is 74.33 with 0.875 Points due at closing. Payment includes a one time upfront mortgage insurance premium (MIP) at 1.75% of the base loan amount and a monthly MIP calculated at 0.50% of the base loan amount. The 0.50% monthly MIP will be paid until the loan reaches 78% LTV, provided the MIP has been paid for a minimum of 5 years. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments only until the end of the loan. Some state and county maximum loan amount restrictions may apply.
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6k,
base loan,
closing cost,
FHA,
FHA Mortgage Insurance Premium,
fixed rate loan,
insurance,
interest payments,
loan payment,
loans,
ltv,
maximum loan,
mip,
mortgage insurance premium,
mortgage rate,
principal and interest,
second mortgage
We have a fixed interest rate on our mortgages and car loans and mortgages. .. then a rate adjustment of daylight after the conclusion? I applied for a loan that I learned was closed, listed on the 6th of 95% and now it was the Tag ...