Any cons to fha refi? Will save $65 month overall, MIP goes up and principal goes down???

From your question this seems marginal but would depend on the hard costs of the refinance. Is this a streamline refinance? If so, before this loan could be approved to close the combination of principal, interest and MIP would have to decline by 5%. So if the total now is $1,000 it would need to be $950 on the new loan. Let us know what the total costs are without including interest charges, paying any taxes due and the funds needed to set up the new escrow account, etc. and we can give you our opinion about how sensible it is.

Each person and their situation is different. We all want to save some money - but the true total cost always needs to be calculated to answer your question. What are the costs, what are the savings, and what is the break even period. Then, how long do you plan on being in the home. Are you there long enough to realize any true savings? Of course, don't forget that most people tend to go backwards. In other words, maybe you have a 30-yr loan with 26-years left and you are going back to a 30-yr loan. www.-FHA-Streamline-Refinance-MN.com

Agree with others, really depends on the details. Age of the current loan, payment, what you are trying to accomplish, how much the cost is to you...

Same as above BUT if you are considering Fha Refi. there is MIP increase on 4/1 so I would recomend contacting a lender a.s.a.p. and getting your FHA case number pulled before that date!!!!!

Need more info, but most important make sure your case # has already been ordered! to find out why call usCall us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

it depends on costs to refi, how many years you are adding, and other factors

DOes not seem like its worth all the trouble, you really need to see the cost of the loan itemized to see if there is a real savings