At that interest rate, there is no benefit to refinancing.30 year conventional loan bought 06/18/2020 Loan Amount $95,200 Sale Price $ 112,000 Interest Rate 3.375%
Homeowner's Insurance $31.73 per month for 3 mo. $95
Mortgage Insurance $21.42 per month for 2 mo. $43
Property Taxes $139.08 per month for 5 mo. $695
Here is some information from the monthly Loan Statement:
Explanation of Amount Due
Principal 183.82 Interest 237.06 Tax and Insurance 209.34 Regular Monthly Payment $630.22
Account Information
Interest Rate 3.375% Principal Balance 84,288.81 T&I Balance 1,177.87 Maturity Date 08/01/50
Thank you for any help figuring out how to get lower monthly payments!!
David
Maine, USA
Just make sure that the lender removes the mortgage insurance as soon as you're eligible. You might even be at that point now.
Statistics: Posted by exodusNH — Sat Feb 07, 2026 2:05 pm — Replies 6 — Views 226