"We did a full refinance, dropped 2%. No fees, no points. Used First Horizon (I can give you the local guy's phone number if you'd like to call him) who were recommended by another friend who used them."
We're going with the bank that we have with the current mortgage. Unfortunately if we did this earlier in the summer we would have saved 2% . . . now the rates are higher (but still lower than when we bought) so we'll save a little over 1%.
I'm looking for info from people that re-wrote terms (the process is diff than with a full refinance) to see how it went for them. So if you know anyone like that, send em my way! :)
The bank told us that there would be no reason for us to do a full refinance if we weren't looking to get cash out of the house (which we're not). So there is no sense in going through the whole process and waiting a month if all we need to do is cough up a $1500 fee and sign a new contract to end up with the lower interest rate. Doing a re-appraisal on the current mortgage (for only $175) should help us drop PMI. After that, we'll do the new terms and drop the interest rate. I can't remember what our closing costs were before, but I think they were way more than $1700 :)
Bank stuff
We're going with the bank that we have with the current mortgage. Unfortunately if we did this earlier in the summer we would have saved 2% . . . now the rates are higher (but still lower than when we bought) so we'll save a little over 1%.
I'm looking for info from people that re-wrote terms (the process is diff than with a full refinance) to see how it went for them. So if you know anyone like that, send em my way! :)
The bank told us that there would be no reason for us to do a full refinance if we weren't looking to get cash out of the house (which we're not). So there is no sense in going through the whole process and waiting a month if all we need to do is cough up a $1500 fee and sign a new contract to end up with the lower interest rate. Doing a re-appraisal on the current mortgage (for only $175) should help us drop PMI. After that, we'll do the new terms and drop the interest rate. I can't remember what our closing costs were before, but I think they were way more than $1700 :)