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My current interest rate is 6.5% with the P & I at $509. In the quotes reveived the average interes

Profile picture for Horlando
In the quotes received the average rate is 5% and the average P&I payment is $550.  Why is it higher then my P & I payment of $509 with a quoted lower rate?
Does the rates quoted take into consideration debt consolidation as provided in the initial request for filled out?
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March 25 2009 - US
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Profile picture for Colorado Mtg Broker
What is your current loan amount and what is the loan amount you are requesting the rate on?  Are you sure you are only looking at the P&I?  Zillow includes estimated taxes/insurance in their payments.
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March 25 2009
Profile picture for pattishawgo
Is your current mortgage interest only?  Do you know what your original loan amount was?
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March 25 2009
 
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