I bought my home last year (August) and at the last minute they informed me I’d be paying PMI insurance. ($80month)
I’ve gotten a better paying job since then and am going to pay down the principal of my home. (Only by a couple thousand dollars in the coming months).
I’d like to refinance my home to get rid of PMI and pay down my principal to refinance and get cheaper monthly payments.
Can anyone recommend a good re-finance company? Is it a good idea to refinance? Is the fact I’ve only had the loan a year a problem? (I’ve made all my payments on time).
Please help me figure out whether or not it’s a good idea for me to refinance. My current interest rate is 6.25%.
Thanks!!