Hey everyone! I’m thinking about refinancing my home loan. I got my mortgage two years back when rates were sky-high at 7.25%. Now I’m wondering what kind of deals are out there.
Can you share your recent experiences with mortgage rates? What numbers are you seeing? And what about the terms - like how long is the loan for, any special conditions?
I’m really curious to hear from other homeowners. It would be super helpful to get a feel for the market before I start talking to lenders. Thanks in advance for any info you can share!
just refinanced last month, got 5.8% on a 30-year fixed. Way better than my old 7% rate! shopping around really paid off. some lenders offered cashback too. def worth checkin out if ur rates high. good luck!
Hey there! I’m in a similar boat, considering refinancing too. Have you looked into credit unions? I’ve heard they sometimes offer better rates than big banks. What’s your credit score like? That can make a huge difference. Any thoughts on fixed vs adjustable rates?
I recently closed on a refinance at 5.75% for a 20-year fixed. This was a significant improvement from my previous 6.8% rate. The process took about 45 days from application to closing. I found that online lenders offered more competitive rates compared to traditional banks. It’s worth noting that I had to pay about $3,000 in closing costs, but the long-term savings made it worthwhile. Make sure to factor in these additional expenses when considering a refinance. Also, be prepared for a thorough review of your financials and property value.