refiinance - Any recommendations ?

[Silver_2000]

Ive spoken to my bank and got a rate of 4.8 for 15 years with 2400 in closing costs

Its a significant savings

anyone have ideas on better deals ?

[PUMP]

The best rate Ive seen was 4.78% - 15-year. Don't know what closing cost would be, but 1/2% to 1% of loan amount is typical.

[dboat]

Ive spoken to my bank and got a rate of 4.8 for 15 years with 2400 in closing costs

Its a significant savings

anyone have ideas on better deals ?

email sent.. but go with 30 yrs and make the extra one payment per year towards principle... goes down to 17 yrs..

Dana

[Wht95Lightning]

When I refinanced a few years ago, I went with the bank holding the mortgage and got 5.0 for 15, which at the time was better than anyone. Since I used the current lien holder, it was very painless. A guy brought the papers to my house, we sat at the table and went through them over a few cups of coffee. The whole process only took an hour +/-.

[L8 APEX]

My dad went from a 15yr @ 6.5% to a 30yr @5%. He wanted a lower payment just in case something bad happened like a layoff etc. His payment is only 300 a month but he sends in his 8-1000 most months. Anyway, that is his strategy.

He has used Wells Fargo and WaMu without any issues. I was in Bank of America last week and they had some deal where they paid closing costs and no PMI reqd with 10% down on new purchases. They may have a similar offer for refi of good customers.

[Silver_2000]

wamu can kiss my ass

they have current loan

now owned by chase

go to a chase back and try to cash a check of a chase customer

you have to go to a "banker" who hardsells you to move to chase before they will give you the cash

they suck too - just give me the Benjamins

[SILVER2000SVT]

Make sure you choose the 1% origination fee vs the itemized fees. Any fees that are a percentage of the loan are tax deductible. Most mortgage companies will either want one or the other plus the title fees which are out of their control. Be careful getting a mortgage is like buying a car, their first estimate is often up to twice as much as they will come down to depending on the company. I typically figure about 1% + discount points(if you choose) + title fees.

WAMU sucks, I almost took them to court when they botched up a refinance a few years ago. It took writing a letter to the company executives to get my appraisal fee back.

[Moonshine]

wamu can kiss my ass

they have current loan

now owned by chase

go to a chase back and try to cash a check of a chase customer

you have to go to a "banker" who hardsells you to move to chase before they will give you the cash

they suck too - just give me the Benjamins

+1 on all of the above, but I refied with WaMu (before Chase buyout) last April because 15 years at 4.875% was the best deal around. However, I have always hated dealing with WaMu. Hoping Chase will be better.

[Silver_2000]

+1 on all of the above, but I refied with WaMu (before Chase buyout) last April because 15 years at 4.875% was the best deal around. However, I have always hated dealing with WaMu. Hoping Chase will be better.
did you have to "pay" to get that rate ?
Thats nearly the same as whats avail now and I thought the rates had fallen

[Moonshine]

did you have to "pay" to get that rate ?
Thats nearly the same as whats avail now and I thought the rates had fallen

1 point loan origination and my mortgage payment is autodrafted each month from a WaMu account.

[mikelemoine]

My credit union here in Orlando had 4.5% on a 30 year with 1 point about 2 weeks ago. Its up to 4.635% now for about a week. I should have jumped on it at 4.5!