Refinance?

[fryjack2]

Aug 8, 2019 11:31:32 GMT -5 RockNVoll said:

Aug 6, 2019 13:39:56 GMT -5 dancingirl21 said:

We are doing a cash-out refinance at 3.99%, down from 4.375%. Our broker told us 3.99 is probably as good as it will get in the short term (for a cash-out refi), but she expects rates to jump up a bit, then go back down near the end of the year. We are using the cash out money to finish our currently unfinished basement, and put down a decent amount on a new car for DH. Our monthly payment is only changing $30. We are going back to a 30 year loan, but our old loan was only at 28 years (we bought this house 2 years ago), so it works out ok for us. And our appraised value went up $40k from buying 2 years ago, so we are really good with that.

Seems like a good time to just look into it, if anyone is on the fence.

Looks like she was right about going back up a bit in the near term.  Banker just told me that happened today--luckily we locked yesterday   Looks like we're getting 3.75% for a 30-year fixed, almost $4k credit towards closing costs (which should cover the bulk of them), and no escrow requirement.  This is down from our current 4.375%.  I'm pretty happy!

Please PM me bank info for the 3.75% fixed   oops!! I was away last week and catching up on this thread.  Just read your post about mortgage brokers.  I will PM you who we used and who I emailed again today to ask about refinancing.