cancel
Showing results for 
Search instead for 
Did you mean: 

Want to refinance my FHA loan so I can stop paying PMI. CAN IT BE DONE AFTER 6MONTHS?

Moderator

Re: Want to refinance my FHA loan so I can stop paying PMI. CAN IT BE DONE AFTER 6MONTHS?


tooleman694 wrote:

680 middle score, and you will need to pay the LPMI up front or they cant raise your rate a little.


A little clarification here:  LPMI = Lender Paid Mortgage Insurance
How the lender gets the funds to pay the mortgage insurance is to bump up your rate a little bit. "A little bit" depends upon your specific lender. Ask them to do the comparison in writing for you.
So do the math to see what you will save.



Message 11 of 11