I'll tell you. I had a HuntWA member contact me this week about getting rid of his PMI. He had built enough equity in his home since he purchased a year ago. I got his numbers together on a worksheet and might have saved him $30/month. If he was going to keep his home for the 29 years left on the mortgage, this would've been a good move. However, I asked him how long he planned to stay and he said about 7 years. The monthly savings over those 7 years wouldn't have covered his closing costs. It would've taken at least 9 years to recover his costs.
I've turned down at least a dozen HuntWA loans for not benefitting the borrower. I will always tell the truth and will never take a loan that's not right for you. My reputation, my word, and my integrity mean everything to me...and you.
