Anyone Refinanced thier home?

[RCT]

dh and I are shopping around for refinancing.....just curious to know if anyone has done this and what was your experience like? I will be talking with a Mortage gal I know....also have surfed the web for infor....just fishing TIA

[angie r]

We re-financed in November and brought our rate down 2 points. This time we used a mortgage broker. I have always been leary of them, but he gave us a better deal than the bank did even with his "fee."

[KarlaB]

We refinanced a few years ago at our other house. We went thru the bank where we had our mortgage with. Dh took care of most of it (okay all LOL) and it seemed to be a pretty simple process. I just had to show up one day to sign papers. :) So, now that I have rambled on I guess I wasn't really much help. We dropped a point or so at the time. We put the closing costs back into the mortgage so we didn't have to pay anything up front.

[AnnW]

We haven't because it wouldn't be beneficial to us in the long run.
You need to remember that you are not only lowering your payments but extending the life of your loan, since ya'll have only had it a couple of years, that shouldn't make a difference.
Sometimes changing a 30 year mortgage into a 15 year at a lower rate might be more beneficial even if it doesn't lower you monthly payments, but you are trying to do that so guess that isn't very good advice either! LOL

[MaryL]

We refinanced in September. We were in a construction loan that was going to mature soon....so we wanted to get into something like a 30 year fixed. We got a really decent rate. We worked with a mortgage broke, which I found quite easy. We also put our closing costs back into the loan...heck, we'll never pay it off so who cares?! LOL:rolleyes: :D