Who are you using for mortgage refi right now?

[CountryBoy19]

We've had two houses mortgaged. One with a traditional bank (Chase), and for our current home we went with a dedicated mortgage banker (Ruoff). From our perspective, going with a mortgage broker was much more painless, and made us both more attractive as purchasers, and got us a better rate. We just got a 3.2% rate a couple months ago...that was with more than 50% down though. I don't know how this would work for a refi, but I imagine that rates should be lower like that.

Percent down, mortgage term, and credit history/score of the borrower all effect the rate. It's a simple risk vs reward calculation. A longer term offers more risk, so you pay a higher rate, this is why I suggest a 10 yr fixed over a 15 yr; the ops payments should be the same as they are now with the interest savings. Furthermore, the more you put down the lower the risk to the lender so lower rate. Obviously your higher credit score also offers less risk to the lender so lower rate.

 

[Jin]

I used Guarenteed Rate for my current home

I know a few people that work there as we all used to work together two decades ago in different industries.

I thought my whole process was pretty painless.


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