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Message
Shopping for mortgage/refinance loan?
Posted on 10/16/17 at 10:02 am
Posted on 10/16/17 at 10:02 am
What’s the best way to go about it? Local or online?
Scenario: new construction home built for 330k with 150k down. 180k loan with local bank paid down to about 153k. Looking to refinance for lower interest rate. Current rate 6.25% 20 yr amortization.
TIA!
Scenario: new construction home built for 330k with 150k down. 180k loan with local bank paid down to about 153k. Looking to refinance for lower interest rate. Current rate 6.25% 20 yr amortization.
TIA!
2
Posted on 10/16/17 at 10:07 am to silstang23
quote:
Current rate 6.25% 20 yr amortization.
How long have you been paying 6.25%? That is almost double what you could get for a 15 year term right now.
ETA: To your question, there are several good banks around NWLA, if you are in Bossier. I use Bancorp for my real estate but I would call a few around the area.
This post was edited on 10/16/17 at 10:09 am
Posted on 10/16/17 at 11:29 am to silstang23
We just refinanced with Quicken - 20yr from a 30yr - 3.875% - minimal closing costs and closing documents were signed at the house through a notary - very easy process I would do it again with Quicken if the rates are good.
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