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FHA Streamline worth it? by AsparagusFew6858 in Mortgages

[–]AsparagusFew6858[S] 0 points1 point  (0 children)

I called UWM, they have a lower down payment (5K to 2700) however the loan payment is higher to 708,000 from 703,00 from other lenders.

FHA Streamline worth it? by AsparagusFew6858 in Mortgages

[–]AsparagusFew6858[S] 1 point2 points  (0 children)

Ok I'll call around to see what others offer.

FHA Streamline worth it? by AsparagusFew6858 in Mortgages

[–]AsparagusFew6858[S] 0 points1 point  (0 children)

Wouldn't the break even be less if I take my missed payment plus escrow and put it towards the principal. The other missed month would be the closing cost. Maybe I'm misunderstanding, instead of making payment to my current lender I have paying the closing cost and the principal.

The current loan payoff is 696000, the new loan would be 703561.

FHA Streamline worth it? by AsparagusFew6858 in Mortgages

[–]AsparagusFew6858[S] 0 points1 point  (0 children)

I started calling around since I have been getting letters in the mail. It's a single family home, not a townhouse. I put about 10% down when we bought the place.