Mortgage interest rates for 30 yr fixed loans

I think you will find that if you apply with a different lender, they will require an appraisal, title search, etc.,....basically those activities which cost you upfront money. Your current lender usually will waive most or all of those if you ask, or, as you said, will pay for them rather than requiring you to do so.

If it were me, I would jump at lowering my rate by 1.5% if I had 28 years to go on the loan and expected to live in the house for even just 2 or 3 more years.

You get back the point you pay in reduced interest expense in less than a year and you could lower your monthly payment significantly depending on the balance you are refinancing.

I locked in two weeks ago @ 4.25%, w/ 1% origination for a 30 year. We are scheduled to close on the 19th.

Different bank from the original mortgage, very smooth.

Don't know the current rate.

quote:

---

Your current lender usually will waive most or all of those if you ask, or, as you said, will pay for them rather than requiring you to do so

---

Is it as easy as a phone call to my current mortgage (The Bank of America) company and asking for a lower rate?

I can't imagine they wouldn't work with me. They're guaranteed to earn hundreds of thousands of dollars in interest over the course of the loan, but are they smart enough to realize this? Or will I have to go somewhere else?

Facts about me. I've never been late on any payments. My credix score is mid 700's. I'm 1.5 years into a 30 year loan. Our plan is to be in our current house for the foreseeable future (15+ years). This is my second loan with them (8 years, the first time around). And I'm good looking.

Do any lenders offer refinancing without paying closing cost? I'm around 6% also, and it seems like it would be worth it to look into. I'm only planning on being in my house for 3-5 more years.