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Joseph Fajardo
4 months ago
I need to refinance because the interest will go up in 5 years from now. The interest rate I am getting is a little higher than what I have now, but it's better to refinance. The principle balance is $210,200 and the house value at $313,000. I have a problem with the mortgage insurance. I don't think I should have to pay for insurance when my house has $100,000 in equity.
 
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Joe Wallace... Answered 301 more questions
3 months ago
What kind of mortgage do you have and what year did the loan close?
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Bruce Reichstein... Answered 89 more questions
3 months ago
FHA guidelines require that the Annual Mortgage Insurance Premium be applied to all FHA financed homes, regardless of down payment. The fees are lower for more down payment. The MIP cannot be removed for at least 11 years or the the term of the loan.
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Ryan Teodoro... Asked 1 more question
2 years ago
My mom recently put her house in my name since I am now paying for it and I was looking to refinance since her credit was poor when she initially purchased the house. I don't have a lot of money to put down but I know my credit is better than hers was originally. Which bank or credit union would be best to look at for low rates?
My mom recently put her house in my name since I am now paying for it and I was looking to refinance since her credit was poor when she initially purchased the house. I don't have a lot of money to put down but I know my credit is better than... (more)
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Can I bring in my son as FHA co-borrower for our refinance even though he lives in his own house?
Can I bring in my son as FHA co-borrower for our refinance even though he lives in his own house?
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Tom Demchak
a month ago
My daughter refinanced last year through Quicken which required mortgage insurance - she has been informed that she needs to pay for 11 years regardless of price to value ratio even going below 75%. Besides refi, what options does she have to eliminate the PMI if due to house value increases and paying off loan she gets below 75%
My daughter refinanced last year through Quicken which required mortgage insurance - she has been informed that she needs to pay for 11 years regardless of price to value ratio even going below 75%. Besides refi, what options does she have to... (more)
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blueth 1559
a month ago
At the time, my LTV at the time was 85%, so I needed to pay MIP insurance. As of right now, my Loan to Balance is at 73% & LTV is at 59%. Am I entitled to a refund on my loan to balance since it is lower than the 75% threshold or do I still have to pay until I complete my 5 yr term.
At the time, my LTV at the time was 85%, so I needed to pay MIP insurance. As of right now, my Loan to Balance is at 73% & LTV is at 59%. Am I entitled to a refund on my loan to balance since it is lower than the 75% threshold or do I still have... (more)
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A Curious User
2 months ago
Can I apply for an FHA streamline loan to lower my interest rate and add my brother to the deed? I do not live in the house but he does. I know the streamline refinance is only if it is your principle residence, but if I am allowed to refinance and add him it will be considered his principle residence.
Can I apply for an FHA streamline loan to lower my interest rate and add my brother to the deed? I do not live in the house but he does. I know the streamline refinance is only if it is your principle residence, but if I am allowed to refinance and... (more)
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