Cost to refinance home...........

[FinlayZJ [JU]]

What's it cost to refinance a home? I've had an apprasial done about 3 months ago, so that should still be good, if needed. Anyone refinanced recently? I want to switch from a 7 yr ARM and an interest only second, to a 30 year fixed.

 

[Stormchaser [JU]]

They very widely. Call up some banks and ask them, that's the only way you'll get the numbers. Plus usually they want an appraisal done for them.

 

[BirdOPrey5 [JU]]

It's going to depend on local taxes, if any, on the re-fi.
Ditech has their $395 flat fee, i've heard ads in San Diego that would do completely free re-fi, no fees... Realisticly., no points, probably 2K to 3K with a more traditional lender/broker.

Edit- and Chase told me 90 days was the longest they'd go back on an appraisal, otherwise they'd want a new one.

 

[erikrs301 [JU]]

Make sure there's no early pay-off penalty on your ARM!

 

[FinlayZJ [JU]]

Make sure there's no early pay-off penalty on your ARM!

Neither one has any penalties.

 

[GoldenJeeper [JU]]

I would never refi if there were fees involved.

 

[89XJClay [JU]]

I would never refi if there were fees involved.

Why not? I refied a year ago this past april. Went from 5 year fixed, 25 year ARM to a 15 year fixed at 5.0%. Only increased my payments by 40 per month, and I get out a lot earlier. I refied with my current bank, as no one else could touch their rate, or their fees. I think it came out to about $750 or so.

clay

 

[GoldenJeeper [JU]]

Why not?

Because it isn't worth me paying when they make their money off of my interest. Fawk paying them for the priviledge ot refi. I have a rock bottom rate, and can pay my place off in 12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29, or 30 years if I want. I manage my own mortgage payoff date and payments. Not them.

 

[1gpndude [JU]]

Because it isn't worth me paying when they make their money off of my interest. Fawk paying them for the priviledge ot refi. I have a rock bottom rate, and can pay my place off in 12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29, or 30 years if I want. I manage my own mortgage payoff date and payments. Not them.

Good on ya. Most people can't quite grasp the concept of paying off their home loan quicker than the minimum payment demanded by the lender.

 

[troolies [JU]]

If you have a high credit rating then no fees or closing costs should you endure.

shop


try wells fargo too..

 

[Stormchaser [JU]]

If you have a high credit rating then no fees or closing costs should you endure.

shop


try wells fargo too..

Wife and I have great credit, and wells fargo wanted something stupid like 2K for a Refi.... :jabspar:

 

[troolies [JU]]

Wife and I have great credit, and wells fargo wanted something stupid like 2K for a Refi.... :jabspar:

They offered my mom no costs....

It depends on when/how you catch the offers I guess.