Mortgage Refinance - have you taken advantage of the LOW rates?

[marrelam]

Is it normal for a company not to tell you how much has to be paid up front? We are trying to refinance and at first we were told it was $350 up front but now she's telling us that we wont find out till the the day of closing.

This does NOT sound right at all. Ask for a GFE (good faith estimate) which I believe is now mandatory that lenders provide if you move forward with using their financial services. We closed on our refi about a week ago and this week got our $1300 closing cost refund check. Cha-ching!!!

IF anyone needs a referral for a good lender in Ohio or Michigan, let me know!! I scouted out 4 companies/banks before picking our lender. I could not have been happier with the outcome!

[LaLabrowneyes]

Right now our mortgage is with Wells Fargo and since they don't want to let us go they are trying to help us. We're were trying to do a 15yr and they said yeah we can help and we just had to pay $350, but now they said we can't do a 15yr because of a streamline etc... and most people are trying to reduce their payment and not make it go up. Sorry my hubby is the one that's mainly dealing with this because I just don't understand half of what they say ......anyways we can only do a 30yr but we can always send extra to pay it off in 15yrs. They did email papers of everything and there's alot of fees, but it just seems weird to me that we can't know how much we have to pay till the closing day,,it went from $350 to I don't know...I just emailed her. All this is just giving me a headache I just want to refinance and not feel like they are messing with us.

[marrelam]

Our original loan was in April 2010 for 5.25% for 30yrs. We refi'd now for 4% and dropped our monthly mortgage $136 a month. Our lender for the original loan was Bank of America. They couldn't come close to what the other lenders were offering in terms of rates and costs. I had no problem looking and taking my business elsewhere.

[everprincess]

We just closed on the house at 4% rate. I'm so happy!!!

[CW&M Mom]

Right now our mortgage is with Wells Fargo and since they don't want to let us go they are trying to help us. We're were trying to do a 15yr and they said yeah we can help and we just had to pay $350, but now they said we can't do a 15yr because of a streamline etc... and most people are trying to reduce their payment and not make it go up. Sorry my hubby is the one that's mainly dealing with this because I just don't understand half of what they say ......anyways we can only do a 30yr but we can always send extra to pay it off in 15yrs. They did email papers of everything and there's alot of fees, but it just seems weird to me that we can't know how much we have to pay till the closing day,,it went from $350 to I don't know...I just emailed her. All this is just giving me a headache I just want to refinance and not feel like they are messing with us.

I'm sure there are multiple banks/brokers that would be more then happy to give you a much better off then Wells Fargo