The costs for 3 & 4 aren't the same as #2 because the amount borrowed changes. $460K, $458K, and $456K, respectively.
Any advice on picking between the scenarios?
What is your zip code? 20124What is the estimated value? $520K @ Purchase (06/2011)What is your credit Score? 740+What is your annual property taxes? $5400What is your annual home owners insurance? $620
I have an existing 30 fixed rate mortgage @ 4.75%. I put 10% down and bought the Single Premium Upfront Mortgage Insurance (1.42%) with seller credits. I have $452K left on the Mortgage ($461K original) and my monthly is $2906.I am now looking to refinance and have been offered a few different scenarios and wanted some help comparing them (all are 30 year fixed and include the single premium mortgage insurance upfront (1.44%):1. 3.500% on $460K with $6,448 closing and $2565 monthly2. 3.625% on $460K with $3,595 closing and $2597 monthly3. 3.750% on $458K with $3,299 closing and $2620 monthly4. 3.875% on $456K with $3,593 closing and $2643 monthlyAny thoughts or opinions? Any help is appreciated.
I need to get pre-approved but I don't know what type of loan will ultimately work best for me, an FHA or conventional. Does it matter what type of loan I get pre-approved for? Can I switch later on?