Refinance question

jennieliz

Has anyone refinanced lately?  We need to and I'm calling for rates and such and I'm finding they are all over the map.  Any mortgage experts know what I should be asking for/what I need to have for them to actually give me an accurate quote?

ccm1203

We closed on a refi in late Oct at 4.375 from 6.5 we did it thru our credit union.  Things that you will need are what you think it will appraise for and the yearly taxes, home owners insurance.    Also if it seems too good to be true it usually is (ie no closing costs deals are usually roll the closing costs into the loan.

akaoct2005

we did either a 5 or 7 year arm at just under 3% and NO cost.  Try the big banks like Wells Fargo.  They want the business, they will eat the cost.  

justEK

I would say to stay away from big banks. Who knows what is going to happen to them any day and they don't work with you as well as Credit Unions. 

When everyone was waiting for loan modifications, my credit union did ours in 30 days and did not force us to be late on anything first.  

jennieliz

Thanks.  We're not late and can make our payments but we can probably lower our rate 2 points and we would then save bundles.  Since DH's car is on the fritz we can apply what we are currently paying to a car loan and not impact our budget. 

We need it to not need an appraisal because there is no way it will appraise for what we owe.  Thank you bad mortgages and ridiculous Florida inflation.