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if my home is valued at 360K and im refinancing at 240K do i have to pay mortgage insurance

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October 22 2011 - Seymour
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Profile picture for palmbeachmortgage
No mortgage insurance inless you take an FHA loan.
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October 29 2011
Profile picture for Georgia Loans
You will not pay MI if you get a conventional loan but you would if you took an FHA loan.  
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October 22 2011
Profile picture for Joseph F Moore
You shouldn't.  Mortgage insurance typically comes into play when you have under 20% equity in the home.  Check with a banker, but I'd be shocked if it was required with 33% equity.

Best of Luck,
Joe
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October 22 2011
 

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Profile picture for Adam Cohn
Questionif my home is valued at 360K and im refinancing at 240K do i have to pay mortgage insurance
  • Latest answer by Adam Cohn
  • October 29 2011
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