NO PMI loan
I have FHA @ 2.75 for 709kI have 47k in HELOCI want to get rid of PMI, any lenders to do DTI @ 50%I have closing reserve only for two months nothing else by upram1_416_606 from Sunnyvale, California. May 2nd 2014
Mike Silkworth (msilkw_195_870)
#29 ranked lender in Michigan - 531 contributions
Your interest rate is SUPER LOW. If you have the highest possible FHA Mortgage Insurance it is at 1.35%, so your interest and PMI are at 4.1%. I'm not sure it would benefit you to refi, since it would probably be a higher interest rate and payment. Plus, your high DTI hurts you, and even if you could get a loan with 50% PMI, your rate would go up due to high risk.
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