LOL exactly and again feel free to delete to my comment not trying to disregard the promotion posted for slickdeals.
It was $236,000, 30 year fixed, 1-2 points sorry I didnt finish the loan before I left today but obviously for the APR to go up it had at least 1 point.
Is this a rate that mere mortals can get? Its astoundingly good compared to what we can find right now
I guess we'd need to know the total out of pocket cost of that loan to get a good comparison.
The personal views and opinions expressed in this post are exactly that and do not necessarily represent an official opinion or stance of Slickdeals and this is a disclaimer in case I say something stupid. In fact, anything I say should not be taken seriously.
I did the math, 2 points would be a little over $5000.00 so it would cost me about $8500 to save about 94 a month with the example you gave, if it were two points, borderline worth it. I would have to be in the same house 8 years to show the savings. I guess I will have to wait the 6 months and see if I want a no cost refi again if rates go down more.
I also found Box and Provident to be excellent options for a refi with Provident being the clear overall winner since it had an extra 0.25 point discount from my employer.
The issue with both options is my value dropped enough that I'd need pay down a lot to get back to 80% LTV. Rather than waste the $150-$160/month in PMI, I went with a local credit union (Advantis) that offers a 2.99% 3/2 ARM with the first adjustment maxed at 1%. They don't charge any PMI even at 95% LTV, so they beat out even Provident for my scenario.
I'd love to refi, and possibly take some equity out of my condo. I've never done anything like this as I've never purchased a home. My home was transferred to me by my father, but his name is still on the loan which is currently owned by chase at 5.5%APR. Any recommendations slickdealers?
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