Wednesday, January 30, 2013
Whew! The first step in the refinancing of our home is done!!!
Of course, it took TWO hours (when it should have maybe taken a 1/2 hour, but whatever!)
So our new percentage will be 3.5% (versus the 5.25% we have now). And because we had filed our original mortgage before May 2009 and we have a FHA loan, our MIP is much reduced (0.01% upfront, approx $18 and 0.55% monthly, approx $83, not much more than we are paying now). All in all, our mortgage will be reduced by about $200/month! And we’ll be making up our closing costs within the year 🙂
SO glad to have that part done. Now we are waiting to hear from our closing attorney. We should be closing in about 2 months!
The rest of the day was spent…filing/organizing (STILL going strong), reading, watching Will and Grace.
I can’t believe there is only ONE more day left of this month!!!!