General Question

syz's avatar

Have you researched mortgage refinancing? Can I take advantage of your work?

Asked by syz (35525points) August 18th, 2011

I’m thinking of refinancing, but haven’t done any of the legwork yet. My home purchase was a 80–15-5 (80% on a 30 year fixed rate, 15% on a 15 year fixed, and the rest as down payment). The last time I looked into refinancing, I gave it up because I didn’t have the cash for what seemed like pretty steep financing costs (points). Have you found any good deals on fixed rate mortgages with low up front costs, 15 or 30 year?

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4 Answers

Brian1946's avatar

I haven’t refinanced in awhile, but I think credit unions tend to be fairer than banks.
I’ve been with the Wescom credit union since 1979, and I’m very happy with them.

Rarebear's avatar

Rates are the lowest ever right now. Our credit union has a much higher rate than I can get from a mortgage broker. I got a 15 year because I can afford it and the rate is lower. I don’t plan on moving.

creative1's avatar

Check out Shamrock mortgage they are wonderful to deal with, I will PM you with some contact information of someone great to deal with.

Tropical_Willie's avatar

@syz Check with your current mortgage company / bank to find out what they offer.
You need to look at your current rate and if it is more than two percentage point higher than the current paid rate consider it, especially if you plan living the house for more than five years,
The rates this week are the LOWEST in DECADES.

PRESS The current mortgage company HARD for their best rate.

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