We did last summer and got our PMI removed. I'm so glad we were able to do this :D

We refinanced when the rates had dropped to about 2% below what we had on the original loan.

Congratulations on getting rid of the PMI....it's always nice to say "byebye" to that:).

We just put in a loan application for a refinance through Fleet Bank. We will also be dropping PMI- plus we're putting in the CC's and cars in it. If everything goes through- we'll be saving $1,000 a month!!! And the best part, we'll be saving $75,000 in interest charges by going from a 30 year to a 20 year loan. I'm so thrilled and keeping my fingers crossed.

Laura

We refinanced last summer and reduced our note from7% to 5.75%, from 30 years to 15 years, got rid of PMI and our "real" payment only increased @ $75 a month.

One of the best things we have ever done!!

we are actually closing tomorrow on refinancing!:D we are happy about it. we are going from about 7.5% to about 6.25%. we won't have pmi either.

Just did. Lowered our payments $180 a month and got some cash back on the deal. We were thrilled!

WOW! That is great. I haven't thought about it. Maybe I should. I would love to cut our years to pay down.

How did you all start?

We refinanced our house about 2-3 times. We bought during the 80's when interest rates were at 12% :yikes: !!! So as they slid we refinanced.

We bought our house in 1994 and has refinanced twice. Once, from a 7.75% 15 year mortgage to a 6.75% 30 years mortgage to get some breathing space because my job situation was getting really iffy.
We just closed today on the 15 year mortgage and got 5%. Woo hoo!! I am so tickled with our rate. Our payment will go up $100 a month but we will pay off the house 8 years earlier.

Keilley