re: Mortgage Refinance - Tips to get best rate?

To get the best rate, you need to move away from the CU's and the Big banks and got to a good broker. You may pay more in fees, but rate is more important, you will make fees up over time, usually 3-5 years. As low as rates are, there is no real reason to pay points it is not a 1 to 1 relationship. Paying 1% of the loan does not lower your rate 1%. Also, your rate will be a 1/4 to a 1/2 higher because it is a cash-out. Also, it will depend on the loan-to-value, higher LTV the higher the rate. Your score will make a difference. Most lenders use the middle score of three, on a mortgage crp. That is not the same report as my crp.com.

The best tip I can give you is to find 2 or 3 and make a decision, too much shopping around can affect your score.