by Dave
(Golden, CO )
I closed on a FHA loan in 12-14 I had to pay about 3200 in upfront mortgage insurance.
It is now my understanding that I can re-fi that to lower my monthly mortgage insurance payment.
I am trying to understand the process.
Do lenders use the UFMIP refund money to cover their costs? and allow me to lower my monthly mortgage insurance payment and possible lower interest rate with pretty much no closing costs on my end?
It seems like some will do that and others will want CC money as well.
It seems like a shell game and I want to understand.
Thanks,
Dave
Comments for Understanding the UFMIP Refinancing
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