Has anyone refinanced recently? Yesterday I was quoted %4.875 with $1600 closing costs. It sounds like a lot to me.
Hi S.,
About two months ago my husband and I refinaced for 4.375% with approx. $1500 in closing costs. We were very happy.
We refinanced with CountryWide
We are in the process of shopping a refi right now & what you were quoted sounds great. The rule of thumb is if you can get a full point less than what you are currently locked in at (so if you have a 5.875% or more now) this would make sense to refi. (assuming you plan to stay in the house at least another year or more).
I've been quoted much higher fee's to refi (up to $3200) so I think $1600 is a great deal.
My husband does mortgages for a living. Feel free to give him a call. His name is Nick, and his cell phone is ###-###-####. He'd be more than happy to help you out!
Good Luck!!
Hi Stacy,
My name is J. and I am in financial services. One of the services we provide is refinancing. We have been in business for over 30 years, have never done any mortgages other than fixed rate and do what's best for the client 100% of the time. I would love to compete for your business - my company is unique and we have saved people tens of thousands of dollars and help them get debt free sooner than their current plans. It costs NOTHING to find out if we can do better for you. I would be happy to give you more information...the easiest way to reach me is on my cell phone at ###-###-####.
My husband heard that rate with no closing costs. I would research more on that.
S.
If you haven't already done so, I would suggest contacting your current lender. Because they wrote your current mortgage they should be able to give you some reduced fees. Otherwise I would suggest calling some local bank branches in your area ie: Fifth Third Bank, Chase, etc. They should all have a loan officer in their branches that can quote you the current rate and fees. Good luck.
S.,
I think that is great. Although, a lot depends on your loan amount and for how many years. I just refi last Friday and we have a low loan amount and that is exactly what we got. Just make sure that 1600.00 is the MOST/high end and that you are not paying any points. Who quoted you that? Make sure you trust them as well. Good luck!
We are in the process of refinancing today and our closing costs are over $2,000.00 but we obtained a slightly better rate.
Are you kidding? Not only is that cheap but you better snap it up quick.
Do the closing costs include the application fee?
Years ago they guy waived the appl. fee entirely for us.
Don't be afraid to negotiate costs - I do it all the time with great results. Say something like "the interest rate is great but the costs are way too high." What is the best price you can do it for?"
Good luck.
