Anyone here recently refinance or purchase a home?

[Dave_7]

If so... what kind of rate did you get on your loan... and what program did you use (i.e. 30 yr, 15 yr, 5/1, etc...)

Shopping rates and lenders.



Thanks,


Dave.

[ray]

Everybody I used to work with refinanced earlier this year when the prime rate was at it's low.

www.bankrate.com

will offer you a nice comparison of local vendors. Almost everybody I know refinanced for under 5.00% APR for a 30-year.

[welfareloser]

FHA loan, 30 yr, 7-odd percent... we'll only be in the home 4 years and wanted the lowest payment possible while we're po... $3000 down payment, 103,000 loan, 1015/month payment (includes escrow.)

best way to shop for lenders is go to all your local banks in person and ask them for their mortgage brochures. have fun!

[WhiskeyPapa]

We refinanced in April. 4.75% for 15 years. We also did a $20k second mortgage at 8.5% to avoid paying PMI. I don't think that was smart, I probably would have paid less in total if I had just paid the PMI for the next couple years.

[Cheesypuff]

One of my friends recently refinanced thier home.

I they were really happy with Costco refinancing, I don't have details. All I know is that they were really happy with Costco.

[Joshua]

prolly about 6 mos. ago for me I got a 30y adjustable locked at 4.75% for the first 7 (by which time it will be paid off anyway).

[Kim]

Late this summer, we refied to a fixed 5.25% 30 year loan.

[PCC]

15 year fixed at 5% even.

[Markel]

Recently went from 20 year to 15 year (at 5.125%). It's really nice to see the principle drop by a big chunk for every payment.

[attgig]

Originally posted by kb0wwp
We refinanced in April. 4.75% for 15 years. We also did a $20k second mortgage at 8.5% to avoid paying PMI. I don't think that was smart, I probably would have paid less in total if I had just paid the PMI for the next couple years.

put in a little extra on that 20k... at least double up on the principle if not more each payment. you should see that total decrease relatively quickly (about the same length you would've been paying pmi)

[Ladogaboy]

I work at a brokerage house, the rates have gone up a bit, but I can't tell you exactly what they are right now. I could get you the number for one of the brokers I work with if you want to find out more. :shrug:

[hoey222]

we refied in july 30yr fixed at 5.375% we cashed out about 20k, our house value went up a bunch since we moved in....