Hey there,
Bought current house in August 2014 100% conventional financing @ 5.5% for 30 years, loan amount was $91575.00
18 months in my loan balance is $89698.00. P+I is 519.00, when combined with tax+ins, my mortgage payment is only $700.23 (no pmi)
At the time of sale, the house appraised for $100,000, we've made some small improvements and the market has improved a little so would expect the house to be worth 103k to 104k at this point.
I can't help but feel jelous about the 2.8x for 15 years and the 3.7x for 30 year rates that are getting thrown about and I'm wondering if there is any chance I could refi to get the lower rate. Roughly speaking 15 year at 2.8x would increase my monthly payment by $100 and 30 year at lower rate would decrease my payment by $100
My equifax credit score is 721, no baddies just low AAoA due to my age and credit util is a little higher than I would like but will be remedied in the next month or two.
Is there any chance I could get qualified for a refinance? I have a couple thousand for closings costs but would I need to put a couple thousand down to get my LTV below 80%?
