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Old 12-19-2008, 05:39 PM
 
1,366 posts, read 4,488,647 times
Reputation: 1494

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Quote:
Originally Posted by banker View Post
Why can't you refinance until April? If you change lenders you should be able to refinance when ever you want to.
not sure --- when i talked to my CU they said the soonest we could refi after getting a new mtg was 6 months ---
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Old 12-19-2008, 10:43 PM
 
Location: NW San Antonio
2,982 posts, read 9,836,992 times
Reputation: 3356
You can refi, there are just penalty points you will pay for doing it that early. I got my ARM loan and I have to pay extra to have it refi-ed before 5 years but with the way rates have been, I have been paying less than 6% rate for the last 2 years and wouldn't gain a bit by doing it now. Only once for 6 months did I ever have to pay 6.75%, then the rates dropped like crazy and I have been so happy because my ARM is 1/2 % above prime, so I've been lucky lately. Closing costs and points for refi costs roughly, 2k, so I believe interest rate has to be at least 1 percent per 100k diff just to cover that loss.
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Old 12-20-2008, 06:27 AM
 
Location: Stone Oak
487 posts, read 1,118,142 times
Reputation: 332
I just sold a house for 230 and with excellent credit and a good dowm payment my client was able to get 4.25%. I thought that was amazing. We're all happy now!
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Old 12-21-2008, 12:05 AM
 
2 posts, read 3,399 times
Reputation: 10
Wow that is a great rate. Was that with or without points.
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Old 12-21-2008, 01:06 AM
 
Location: San Antonio
944 posts, read 3,063,572 times
Reputation: 266
Thirty-year fixed, or teaser?
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Old 12-21-2008, 11:35 AM
 
1,366 posts, read 4,488,647 times
Reputation: 1494
Quote:
Originally Posted by hello13685 View Post
Thirty-year fixed, or teaser?
I'm sure it is a fixed rate --- my CU had 4.50% 30 yr fixed last week ---
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Old 12-21-2008, 06:22 PM
 
Location: San Antonio
399 posts, read 1,139,584 times
Reputation: 192
Quote:
Originally Posted by mrstxcop View Post
I'm sure it is a fixed rate --- my CU had 4.50% 30 yr fixed last week ---
What's your credit union?
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Old 12-21-2008, 07:41 PM
 
Location: Stone Oak
487 posts, read 1,118,142 times
Reputation: 332
no points
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Old 12-21-2008, 08:41 PM
 
1,366 posts, read 4,488,647 times
Reputation: 1494
Quote:
Originally Posted by 713 to 210 View Post
What's your credit union?
i bank with United San Antonio Federal Credit Union --- we have been with them since i was an employee at USAA and it was USAA FCU --- at that time they were only open to members and employees --- they have since changed their name and are now open to the general public ---

their rates change as often as 2times a day --- as of Friday the rate was 4.875 ... if you go to their home page they have a link that will take you to their current rates...
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Old 12-26-2008, 05:53 AM
 
67 posts, read 275,044 times
Reputation: 31
Randolph Brooks is even cheaper with super low closing costs. We are doing a 20 year refi for 4.6. Our closing costs are less than $2,000
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