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Keep no PMI loan or refinance with PMI?

We bought our home in Jan 2008 at 6.25% and no PMI, even though we put less than 20% down.  I don't think we have 20% equity in the house yet, so if we refinance, yes we would have a low rate, but a ton of PMI would be tacked on.  We could still drop our payment a bit, maybe more with an ARM, but factoring in the recoup of closing costs, is it really worth it to ditch our no PMI loan?
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July 15 2010 - Greenville
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Post a request on Zillow for quotes. Monthly MI will be aprx $69/month and get aprx 4.375% or a rate of aprx 4.625% and no MI.
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July 15 2010
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$161,000 and estimated $180,000

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July 15 2010
What is the balance and estimated value?
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July 15 2010
 
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Latest answer by wetdawgs
September 18 2012 | 1 answers
  • Asked by ronald29609
  • In Refinance
  • September 18 2012
Keep no PMI loan or refinance with PMI?
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Latest answer by Clay Branch
July 15 2010 | 3 answers
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