Hi guys, I’m wondering if it’s a good idea to refinance the following loan with the goal to reduce monthly payment? If so, would this include full underwriting? Can they just remove the PMI? Could I get a lower rate?
Purchase date: 2019 Home purchase amount: $430K Loan Amount: $391,500. Principal Balance: $378,330. Property Taxes: Around $9,800. Downpayment: $50k PMI: $55 Interest Rate: 3.625% Mortgage: $2723.34 Credit score: 770 Company: New Rez (previously Quicken Loans).
Home current value $550K+