[luca19608]

We currently have a 10 year lock interest only ARM that will adjust in 2017. We planned on refinancing between now and then. We currently have an offer to refinance to a fixed 30 at 4.875, We are currently at 6.875. The problem is the closing costs are close to $15,000, including over $3000 for mortgage insurance up front, along with $90 a month. My gut tells me no right now. We are paying a little principal every month. Our credit scores are over 700. I hate paying mortgage insurance, this is an FHA loan also. Looking for some advice on this. Thanks