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Sergio Said:

Could my mortgage approval fall through?

We Answered:

Just used my VA loan benefits to, there where a couple of glitches but nothing major from what I have read should say congrats on the new home. And in addition Thank you for your service

Willie Said:

Interest, closing cost, PMI, and points?

We Answered:

Personally without seeing all the information I see the first one as better. The reason being is that as of JAN 1 of this year, PMI is tax deductable. Your payments might be close on both of them, but your PMI will fall off, your rate wont change. Usually after a year, if you submit an appraisal, they will take your appraised value over sales price and remove your PMI (assuming your LTV is below 80%). They will never lower your interest rate.

From limited information I would take the first deal.

Edwin Said:

Re-finance Good Faith Questions?

We Answered:

Broker fee seems high to me too. If the new loan is 1 per cent or more less than current fee it may be a good loan. Check to be sure it is a fixed rate loan and check for prepayment penalty for early payoff or refinancing. If this person is paying off any other bills and lowering her monthly payment that is a consideration also, I guess I mean every ones circumstances are different and it depends on her situation and what her goals are. Good Luck.