- Find a Real Estate Professional
- Bay Village Realtors®
- Bay Village Mortgage Lenders
- Bay Village Home Improvement Pros
- Bay Village Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Realtor® Advertising
- Join the Professional Directory
Answers (6)

- Gary Kinberg, "Gary Kinberg"
- Contributions:229
Current rates are a bit high and no mi means more can go to principal. Keep your loan as is and pay extra to principal recuction. If you go FHA refinace, you would need a 5 year ARM to break even on your payment at 4.75% once the FHA insurances are added on to your loan excluding your closing costs and excrows!

- Clay Branch, "Georgia Loans"
- Contributions:7356
Your balance and estimated value would be higher than 90% and if you didnt bring the interest on your payoff, closing costs, and funds for a new escrow acct for a refinance, then your ltv would be more like 93%. The rate you have now with no MI is equal to a rate of 4.95% with MI.

- Clay Branch, "Georgia Loans"
- Contributions:7356
That information doesn't really help. A lender will need to know what type of loan you have, if this is a portfolio loan then you should just keep what you have. If it is a fannie or freddie loan, then you can refi without MI being added but the rate will probably only be 3/4 point lower at best so it may take up to 7 years to recover your closing costs. That is based on where rates are right now.

- dapperdad
- Contributions:3
no morgage is held by soverign bank, home val.= 255K
mort. bal.= 230K , no PMI.
mort. bal.= 230K , no PMI.

- Clay Branch, "Georgia Loans"
- Contributions:7356
Is this a fannie or freddie loan? If so, did you get the loan with no MI when the LTV was 80% or below?



need to re-fi mortgage held by soverign bank, I'm @ 90% with 5.9 w/ no PMI.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.