CRAZY: I just locked a refi: 3.75% for 30 years

[ohgillian]

0 points; 0 closing costs; APR = 3.75.

This is crazy, I tell you. CRAZY.

I'm so happy, though. We'll probably keep our current payment for now, but we'll appreciate the extra flexibility one day when/if we're ever a two-child family.

ETA: Thanks MrsBPO for helping me think yesterday; I was having a hard time processing basic logic and math.

[fuddyduddy]

Wow. That's fantastic!

[yellowumbrella]

That's awesome!

[SJ]

Awesome!!

[everam01]

do you mind sharing the lender?

[ohgillian]

May 11, 2012 8:37:06 GMT -5 everam01 said:

do you mind sharing the lender?

Sure. It's Wells Fargo. We were already with WF, and this was under a special "streamlined refi" program for current WF mortgage borrowers.

I also called USAA to compare and they couldn't come close -- they could match the rate, but it would have 2 points.

[lishie]

The rates are crazy right now. We just used a local bank and got a rate of 2.99 for our refi. Granted, we're doing a 12 year mortgage, but still, it's nuts. DH's mom's mortgage when she owned her brownstone was 8% when she had do buy DH's dad out in the mid-90s. She can't get over the rates right now.

[clea]

That is really great. Congrats on an awesome deal.

[Pom]

Awesome!

[ohgillian]

May 11, 2012 8:49:04 GMT -5 @crackhabit said:

Wow! I'm jealous. Can I ask if you had equity or were underwater at all?
We are underwater. I'd like to refinance but BofA is giving me a hard time about FHA streamline.

We had equity, but they told us that the program was designed to help people who were underwater, too. They said it was because our lender was Freddie Mac (which I didn't know).

[SJ]

Awesome rate!