Who Has Refinanced Lately?

[ARCHIVED THREAD] - Who Has Refinanced Lately?

Posted: 9/7/2010 10:17:12 AM EDT

If you don't mind sharing, what did you get for a term, interest rate, any points paid, and closing costs?

I'm currently sitting at 5.5% for a 30-year mortgage and am thinking about refinancing. I don't plan to move anytime soon.

Posted: 9/7/2010 10:19:25 AM EDT

[#1]

Just went from 5/30 to 3.75/15 - no points, ~$600 closing cost. I'd post the lender, but ARFcom's head would explode.

Posted: 9/7/2010 10:19:54 AM EDT

[#2]

Quoted:
Just went from 5/30 to 3.75/15 - no points, ~$600 closing cost. I'd post the lender, but ARFcom's head would explode.

Bank of America?

Posted: 9/7/2010 10:20:23 AM EDT

[#3]

I'm in the process right now.

Old rate: 6.0% fixed 30 year
New rate: 4.625% fixed 30 year

All the above are 0 points. Closing costs –– not final yet but I think my GFE says around $1,100.

Credit scores are 800+ for two of the three credit rating agencies.
Home was appraised at $200k over current mortgage balance.

I was quoted a rate of 3.875% but I'd have to go to a 15 year. I figure I can just pay off a 30 year faster if money is good; if things are bad then at least my monthly payment will be less.

Edit to fix my numbers.

Edit 2: I am not hielo; his bathroom would dwarf my pitiful condo. I just happen to be in a good part of a very large city. Further, they're building a new museum near me, so that is why my property value keeps going up.

Posted: 9/7/2010 10:21:56 AM EDT

[#4]

3.75% for 15 year fixed.

0.750 total points/discount fees.

Incredible deal; for an extra $50 total a month, I got rid of a second mortgage that was going to balloon in 9 years with about $15k left, and I'll pay off my primary mortgage 9 years early.

Posted: 9/7/2010 10:37:38 AM EDT

[#5]

Quoted:

3.75% for 15 year fixed.

0.750 total points/discount fees.

Incredible deal; for an extra $50 total a month, I got rid of a second mortgage that was going to balloon in 9 years with about $15k left, and I'll pay off my primary mortgage 9 years early.

Very nice. I wish I could swing a 15-year but I don't believe that I can.

Posted: 9/7/2010 10:38:17 AM EDT

[#6]

Quoted:

Quoted:

Just went from 5/30 to 3.75/15 - no points, ~$600 closing cost. I'd post the lender, but ARFcom's head would explode.

Bank of America?

Worse.

Posted: 9/7/2010 10:47:29 AM EDT

[#7]

Went from 6.0/30 to 4.75/30 with 0.125 points last May through a .mil credit union.

Posted: 9/7/2010 10:49:30 AM EDT

[#8]

Interested as well.

Posted Via AR15.Com Mobile

Posted: 9/7/2010 10:50:04 AM EDT

[#9]

Quoted:
Went from 6.0/30 to 4.75/30 with 0.125 points last May through a .mil credit union.

navy fed?

Posted: 9/7/2010 10:50:56 AM EDT

[#10]

Quoted:
Just went from 5/30 to 3.75/15 - no points, ~$600 closing cost. I'd post the lender, but ARFcom's head would explode.

do you mind posting how your payments changed?

Posted: 9/7/2010 10:52:53 AM EDT

[#11]

Closing on my refi Thursday. Going from a 15yr 5.5% to 30yr 4.375% $799 total closing costs 0 points.
Making accelerated payments so same time to pay off but wiggle room in case of financial hardship.
Will be about $70 a month in interest savings.