patrick.net

Try the math for a 15 year re-fi.

Yes. But find a better rate. It will take less than a year to pay for the refi costs and then you save 200/month.

SFace says

Yes. If that is also the Apr. Cant figure out why you did not refi 2 months ago, 6 months ago like everyone else.

Because it wasn't until the last month or so that I can all of a sudden show comps that show 80% LTV. I've *wanted* to refi for a long time now.

of course I would!! - you can do it without cost for a bit higher rate - Go Go Go!!
You missed the boat on the 3.5 but still much better than what you have.

You won't be able to refi ur underwater shack, sorry

You would come out more far ahead, if you just started paying $200 more, each month on your current mortgage.

By time they add on the new MIP fees that have been added and fiddled with since you bought in 2010, you'll easy eat that $200 a month savings up in a high MIP payment. Unless you have 20% to put down.

Are you adding what he would pay in extra MIP back to your analysis?

Let me clarify, if he bought in 2010 like I did, then chances are his MIP is under $70.