PenFed Mortgage 2.875% for 15 yr 0.00 (ZERO) points for Refinance
Deal DetailsLast Edited by BeAuMaN February 11, 2016 at 08:05 PM
However, if you add .25% percent to your rate, then the 1% origination fee is waived, so the end result is:
- 2.875% with 0 points.
- 2.75% with 0.625 points.
The only lender fees besides the are:
Appraisal Fee: $350-$450 (required regardless of equity)
Tax Service Fee: $65
Credit Report: $16.50
Flood Certification Fee: $7
You can close at any title company you want, so I called around and found a local title company willing do everything for only $300 when I closed on mine.
Fees such as lender title insurance and government recording fees are passed through at whatever they cost.
All in, I paid less than $1900 total in fees and points to refinance when I took advantage of this. This is a good deal for those interested. The only reason mine was so high is because title insurance is ridiculous in Texas. In California for example, my same loan would only have $1350 in total fees/points to close. Well worth it.
Anyways, just thought I should share for those interested in doing a re-fi. This is a great rate, much lower than anything else I have found, especially here in Texas.
Please note: This is good for conventional loans up to $417k.