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Replies (5)
- Jeany Hong, "jeanyh"
- Contributions:130
Hi akkid65,
If you don't get any responses on here, I would suggest getting in touch with a lender directly through our Professionals tab to get details on programs they can offer you.
If you don't get any responses on here, I would suggest getting in touch with a lender directly through our Professionals tab to get details on programs they can offer you.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
Youll save tens of thousands in interest payment switching to a 15yr....WHY would you not ? You dont want to pay an extra $400 ?!?!?
15 years ago my mortgage guy tried to sell me a 30 year mortgage, I wanted a 15yr. I won and now I have 15 years of NOT paying a mortgage payment...
15 years ago my mortgage guy tried to sell me a 30 year mortgage, I wanted a 15yr. I won and now I have 15 years of NOT paying a mortgage payment...
- Joel Hobson, "Joel Hobson"
- Contributions:1
I believe 15 year mortgages are the way to go...you pay so much less interest, and you can get a lower interest rate. Do it , if theres any way you can swing it!
- wayne lancaster, "funds2"
- Contributions:1177
15 yr loans have big advantages regarding interest savings/equity build up. The down side is you would be increasing your payment by $460+ monthly, and if your finance should suffer a hit that could be huge issue. With a 15 yr FHA loan the Mortgage Ins would be .50% monthly, and you would need an appraisal going from 30 yr to 15 yr. Conventional refi would require an appraisal and MI would be similiar.
Only you can decide if payment vs savings is your best option.
- T.C. Whiting, "TC_at_PNC_Bank"
- Contributions:332
You could have the lender pay the UPMI on your behalf. Rate would only be slightly higher to do this. Feel free to contact me to take a closer look.
Refi to 15 yrs?
Are there any programs out there that can help me do this?
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