Video Transcript:
Your FHA loan was a great first step, but its insurance payment never stops. This hidden monthly cost traps your money and slowly drains your home's value. I am David Ghazaryan, and I structure the path out of this trap. My process finds the perfect moment to replace your loan, saving you money. To remove that insurance payment, you must have twenty percent ownership in your home. Your credit score also needs to be above six-twenty. (Data may vary) Don't just look at the new interest rate. Even if it is higher, removing the big insurance payment means you still pay less money each month. There are costs to change your loan. We calculate exactly how many months it will take for your monthly savings to pay back those initial costs. This is how financial control works. For more analysis, my socials, website and the detailed article are all linked for you directly in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/when-to-refinance-an-fha-loan-in-miami-and-hialeah
