Banks or Credit Unions with best rates and Closing costs for refinance right now?
I refinanced into a 15 year fixed 3.125% mortgage in December, thinking interest rates that low were historical. Well, they were a part of the history of the declining interest rates that were to come with Coronavirus, but I didn't know about that.
So I'm now trying to find a bank or credit union with the best rates on a 30 year fixed, thinking I would actually like to move back to a 30 year fixed if I can get a similar interest rate as I'm paying now on my 15 year fixed. Someone on here had mentioned how they got an insanely good interest rate on a refinance. I know this isn't directly YNAB-related, but I want to get the best deal I can find, so please share your secrets, oh ye with the great rates and low/no closing cost refinance deals. Pretty please.
Thank you so kindly!
I would check places like Mortgage Professor, LenderFi, Better.com, Bankrate.com and look for the best rates with no closing costs. These use brokers that find the bets rates for you.
Rates have climbed a bit the last week or two (they seem to have bottomed the week of May 28), so you may be hard pressed to find a 30 year that low right now.
I refied into a 2.625% 15 year loan from a 3.5% 20 year loan a couple months ago. No closing credits, no points, so I did have closing costs.... but the break even was 11 months.
I'm signing papers this week to close on a 30 year fixed at 2.875%. $4k in closing credits, no points. Mine is through a broker through Quicken Loans. But I locked that in 30 days ago yesterday. They had to extend it because QL was dragging their feet on getting info they needed. I would always get them any requested info within 24 hours. I have a 830 credit score and plenty of cash so it was a no brainer for them yet they've been very slow to process it. It's been driving my broker crazy. The good thing is the QL has a very good record on the servicing side once you get the loan.
I would recommend you to checkout BECU credit union first because this is the only credit union where you can get 3.526 APR with 12 year no fee structure and also you don't pay an origination fee on fixed-rate or adjustable-rate mortgage home loans for purchase and refinance transactions