Stay on the Scene With AMC. Movie lovers, get first and behind-the-scene previews of upcoming films, exclusive interviews, and more on our blog. Be in the know before anyone else! Check out what's new this week on AMC Scene.
A true no-cost refinance means you pay no money upfront and neither your loan amount nor your interest rate is increased to build any costs into your new loan. To calculate a break-even point, divide the anticipated total cost of your refinance by the monthly savings on your loan payment.
For example, if your new FHA Streamline Refinance is for $100,000 mortgage, the FHA will assess a $10 upfront mortgage insurance premium (MIP) to be paid by you at closing.The FHA automatically adds the $10 payment to your new loan balance.f your existing FHA mortgage was endorsed prior to June 1, 2009, your mortgage insurance premiums have been grandfathered. You can refinance via the FHA Streamline Refinance program and pay reduced rates for both for upfront MIP and your annual mortgage insurance premium.