I live in a horizontal property, and we have a mortgage of 100%. We have to pay mortgage insurance because it is not? below 80%. So now our home is worth 170,000 and we paid 140,000? L and we purchased in February. Is this bad again finance early? D? JEME please know the pros - and - against doing this. ? Affect? my bad cr? dito? ? It is hard? etc. etc.
How much equity does the average lender prefer that you to have in an investment property before they’ll consider refinancing the mortgage? 20%, 25%, more???
I have a $92,000 home loan at a fixed rate of 6.75 for 30 years. Right now my payment is $600 per month. This does not include my PMI payment of $46.25 a month.
I plan on making this same payment after refinancing, but applying the excess to the principal. Would this be beneficial to me if I am going to sell the house in 2 years? Should I let it be? Should I get a loan for a shorter amount of time?