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Should I do conventional refiance at 4.4% or FHA @ 3.25% with PMI at 113.00 a month? My current loan is 4.875?

by queeniejarrard751 from Dubuque, Iowa. Apr 29th 2021 Reply

Robert Schiano (Robert Schiano)
#2 ranked lender in New York - 7 contributions

we can do a conventional mortgage from between 2.75% and 3%. call my office and ask for Kevin Bailie at 888 660 3033.Bob Schiano, President

Apr 30th 2021
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,457 contributions

That is a high rate for conventional in today's market, so I assume this means you have a weak credit score, as a conventional loan increases the interest rate as your score goes down. FHA pretty much gives everyone the same rate unless your score is very low. That is also a high rate for FHA today. For most people, the answer comes down to multiple factors, but most people would select the one with the lowest payment regardless if it has PMI attached or not. I lend in IA MN WI ND SD. Find me at - Cambria Mortgage, NMLS 274132

May 2nd 2021
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