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Hello, my FHA mortgage was closed in Jan 2009 at 5%. If I refinance before Jun 3, any idea what my PMI will be?

Thank you


rated:

Hi dqatota;

On Streamline Refinances, for loans which were Endorsed by HUD prior to June 2009:
The Up Front MI is a minimal .01%
The Annual (paid Monthly MI) is calculated at .55%

For example,
A $200,000 loan amount would have $20 in Up Front MI and monthly MI of $91.67/mo

-Adam
Old Hippy & Mortgage Pro


rated:

Hi Adam,

Thank you for the info. I just PM'ed you with the estimates from my loan officer. Can you please take a look?


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