I have refinanced my home mortgage twice in last 2 years. My broker send an email asking if I would be interested to refinance again, since refinance rates are all time low. This is the rate quote I got form my broker
- 30 Year Fixed – 4.375%
- 5/1 year ARM – 3.375%
Above rates are for No Cost, No Escrow Loan. If my property is above 80% Loan to Value, I just have to walk to closing with pen to sign the papers. I don’t pay a dime in closing costs. I might be able to get lower rate,if I pay the closing cost, but with volatile market, it makes sense to go with No Cost/No Escrow Loan. I will be able to refinance anytime again, if mortgage rates take another dip.
I have asked several mortgage companies, lenders and brokers but no one can beat the rates offered by my broker. If you need his contact, leave a comment. I can forward his contact details.
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Would love to get the contact of your morgage broker.
Thanks,
Sanjay