About to Re-Finance/Any Advice?

[skinnje1]

3.875 for 20 and 3.375 for 15 yrs at www.penfed.org with 1% origination fee and no points. With the ARMS penfed pays most of the closing cost if you use their appraiser, lawyer etc. They have my mortgage. So something you might want to consider. Almost .5 point less than what you are getting. Highly recommended by fatwallet. I would see if you can negotiate down more of the closing costs.

 

[ritachick22]

For those of you who may also be exploring refinancing right now if you are a part of a Union you may qualify for some special benefits.

Union Plus has joined with Chase Bank to give you some breaks and perks.

http://www.unionplus.org/home-mortgage-programs

 

[lmgiertych4]

Often those "great newspaper rates" are loans that you pay '1 point' to get...1 percent of the value of the mortgage. Usually not a good deal.

We refinanced almost 1 year ago with one of the companies listing the "great rates" in the newspaper and paid no closing costs and no points and got a rate lower than what was listed.