Are we paying too much for Private Mortgage Insurance?

来源: worriedmom2g 于 2010-10-28 09:13:50 [] [旧帖] [给我悄悄话] 阅读数 : (559 bytes)

Recently refinanced our primary home to 30 year fixed mortgage.  Appraisal came in at $330,000 and we borrowed $285K.  We are paying $173.38 for the PMI every month. We have 810 credit score. Are we paying too much?  At the clsoing, we only received the PMI disclosing documents, listing how much we need to pay and when we can stop paying it, etc, but not the certificate itself. We still don't know who is our PMI company and contacted the broker and the bank, nobody can give us any answer or send a copy of the PMI certificate to us.

所有跟帖： 

• Very expensive PMI -Conehead- ♂ 给 Conehead 发送悄悄话 Conehead 的博客首页 (165 bytes) () 10/28/2010 postreply 09:39:25

• Indeed. -worriedmom2g- ♀ 给 worriedmom2g 发送悄悄话 (362 bytes) () 10/28/2010 postreply 09:45:26

• Not for long and it has income limitation -Conehead- ♂ 给 Conehead 发送悄悄话 Conehead 的博客首页 (216 bytes) () 10/28/2010 postreply 09:51:31

• Thanks for the link. Will start paper work on getting money from -worriedmom2g- ♀ 给 worriedmom2g 发送悄悄话 (0 bytes) () 10/28/2010 postreply 10:02:34

• Nobody has said you can't pre-pay. -凌长老- ♂ 给 凌长老 发送悄悄话 凌长老 的博客首页 (177 bytes) () 10/28/2010 postreply 10:27:31

• I guess $173.38包括了pricipal, interest, and may be mortgage insura -万枫- ♂ 给 万枫 发送悄悄话 万枫 的博客首页 (20 bytes) () 10/28/2010 postreply 09:46:46

• Are you sleepy? :-) -Conehead- ♂ 给 Conehead 发送悄悄话 Conehead 的博客首页 (0 bytes) () 10/28/2010 postreply 09:49:12

• No, just PMI alone is$173.38 per month. Principal, interest -worriedmom2g- ♀ 给 worriedmom2g 发送悄悄话 (57 bytes) () 10/28/2010 postreply 09:50:47

• oops！ my mistake -万枫- ♂ 给 万枫 发送悄悄话 万枫 的博客首页 (0 bytes) () 10/28/2010 postreply 09:54:20

• Even 0% interest will be much more than that ...:-) -Conehead- ♂ 给 Conehead 发送悄悄话 Conehead 的博客首页 (0 bytes) () 10/28/2010 postreply 09:55:34

• I was talking about his second mortgage ($21k) -万枫- ♂ 给 万枫 发送悄悄话 万枫 的博客首页 (61 bytes) () 10/28/2010 postreply 10:00:37

• Can you come up with 21K more cash? -凌长老- ♂ 给 凌长老 发送悄悄话 凌长老 的博客首页 (317 bytes) () 10/28/2010 postreply 09:42:03

• Yes, we can borrow from 401k. Based on our situation, do you thi -worriedmom2g- ♀ 给 worriedmom2g 发送悄悄话 (192 bytes) () 10/28/2010 postreply 09:48:24

• come on! -五分店- ♀ 给 五分店 发送悄悄话 (88 bytes) () 10/28/2010 postreply 09:56:25

• You have to pay $10402.80 PMI for 5 years, -北燕- ♀ 给 北燕 发送悄悄话 北燕 的博客首页 (33 bytes) () 10/28/2010 postreply 10:09:53

• 401k loan cost? -凌长老- ♂ 给 凌长老 发送悄悄话 凌长老 的博客首页 (351 bytes) () 10/28/2010 postreply 10:15:03

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