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I closed Dec 09, and am told I have to pay double ins than those who closed May 09. why?

I want to go from 5.25% to a lower record rate. Even tho im 100% disabled, I guess there is no program to get help with this/ Bob
  • May 30 2012 - Ramsey
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Answers (1)

This is because FHA has increased the premiums 3 times since you obtained your loan.    With 5.25% existing you can still benefit from a streamline refinance even with the increase in premium.   Your immediate benefit will not be a large one, but the longer term benefit will be worthwhile when the mortgage insurance eventually is removed.
  • May 30 2012
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