Yes bearishgurl I think you are probably right. I also forgot that our MI will be retired in a little over 2 years, assuming we have 78% equity at that time(I’ve got my fingers crossed, although the way things are going we will probably have to prepay quit a bit for that to happen). I think now MIP is over the entire life of the loan. So I guess we can’t take advantage of the excellent rates now either even though we are not under water, have 2 good incomes, have never been late and have excellent credit. Bummer. Well hopefully I can invest that money I would have otherwise spent on closing costs/20 year mortgage.
