Can someone give me a ballpark estimate of what it will take to lower my monthly payment, id like to get an idea before I start talking to banks. Thanks. Heres some info about my situation.
30 yr F.h.a.loan 4.75% balance $292,000 home value $350000. Curreny total monthly payment $2250. Principal & interest is $1650 the rest is about $300 for pmi and $300 for taxes and insurance. I would like to get rid of pmi and lower my total monthly payment (principal, interest, taxes, ins.) to around $1500. I have money that I would use to pay down the principal as im guessing I would need in order to lower the payment. Thks for your help.
Read more: Im looking to lower my monthly mortgage payment?
