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Bojangling

Advice

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Refinance Scenarios

Answer

The costs for 3 & 4 aren't the same as #2 because the amount borrowed changes.  $460K,  $458K, and $456K, respectively.

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Refinance Scenarios

Answer

Any advice on picking between the scenarios? 

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Refinance Scenarios

Answer

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

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Refinance Scenarios

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.

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Pre-approval good for FHA or Conventional?

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?

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