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Updated over 5 years ago on . Most recent reply

Danny Gonzalez's profile image
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Danny Gonzalez
  • Member since Oct 29, 2019
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Danny Gonzalez's profile image
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Danny Gonzalez
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Danny Gonzalez
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Private Lending & Conventional Mortgage Advice

My refinance numbers to remove pmi

Danny Gonzalez
Posted

Thanks in advance. I need advice from mentors here. I have a monthly payment of $2700, 27 years left, $399k fha loan at 3.5%. PMI is almost $300. I am getting quotes to refi to eliminate pmi. All quotes are coming back with $2600 payment at 3.99% for 30 yr loan. After all fees, ecsrow, etc the new loan will be 411k.

Is it worth it to do the refinance to eliminate the pmi and only save $100 mo on payment?

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