Is anyone else looking at refinancing their mortgage?

[noguns]

We just refi'd and looked at 15 and 20 year terms. There was essentially no discount on the rate, so we took the 30 year term and are making extra payments that get us to a 20 year payoff. This way at least we have the flexibility to put that money elsewhere if we need to.

Ditto here.

Used lending tree. Ended up with amerisave at 2.5. I could have gone a bit lower if I waited.

I'm doing the same.

I got the best rate with amerisave after forwarding offers back and forth.

[Cory]

It cost us in closing cost to refinance... but we ended up with 2.25%. It cost us about $6K. The lowest rate I've ever heard of anyone getting.

[mmc45414]

Same here except we are at 2.625% with less than five years to go. To make even a zero-cost refi worthwhile (Alabama has taxes due as part of a refi), we need a rate of 1.5% for a five-year term.

I was in a similar situation and wanted to refi and consolidate, but normal mortgage companies didn't want that small of a deal anyway. So I ended up doing a deal based around a line of credit from a local bank instead. You can have a second mortgage pay off a first mortgage, I believe.

[SecondsCount]

I was in a similar situation and wanted to refi and consolidate, but normal mortgage companies didn't want that small of a deal anyway. So I ended up doing a deal based around a line of credit from a local bank instead. You can have a second mortgage pay off a first mortgage, I believe.

I was able to do something similar with my local credit union. Great interest rate and zero closing costs.

[deputyG23]

I did it in the spring at our credit union.
$600 closing and 3.24% for 15 years.
No escrow to mess with and the mortgage will never be sold.
Every biweekly pay I pay half the monthly payment and put money into an account strictly for taxes and insurance.
Not worried about carrying a mortgage until age 76.
Extra money will most likely do better in the markets long term.
If things go to total sh*t here in the Old Dominion, I will sell and move anyway and hopefully buy the next place for cash.