Profile picture for garycpennock

Why are the monthly payments on the quotes I received all about twice what I now pay for a refinance

Current mortgage is $213,000 at 4.875% fully amortized for 30 years. My payments are $1190.72.
Request mortgage was $200,000 ($13,000 less than the current mortgage) for 30 years fixed. new payments for 4.7% to a little over 5% are about double. The quotes received DO NOT display the loan amount. Does this site crash when the new mortgage is less than the current outstanding mortgage balance???????. Why don't you show the loan amount with the quotes????
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January 27 2009 - Poway
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Answers (1)

Profile picture for Rob Cochems
We can't change the loan amounts, so the quotes are based on the 200k loan amount.

Difference is payment is due to the fact Zillow is estimating your property taxes and home owners insurance and impounded them in the payment. 

Click on quote to receive further detail and you will see the principal and interest payment.  
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January 27 2009
 
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  • Asked by garycpennock
  • In Mortgage
  • January 27 2009
Mortgage Rates
 
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