Refinance mortgage 1 year after purchase?
Pros - lower rate, theoretically. I believe our current rate is around 5.25%.
Cons - more BS to go through, and possibly fees. Our current mortgage is with BoA which is super convenient because I do all our other banking with them.
Our credit is excellent and we have 20+% equity, so no PMI. We didn't pay points the first go round. Would it be worth any upfront fees to look into this? Will it look fishy doing this "so soon" (relatively) after the first mortgage?
Again I'd be looking to refinance for the exact amount I owe, not cashing out anything.