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Author: SRenaeP Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127815  
Subject: Who has no closing cost refis? Date: 11/15/2012 2:49 PM
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With interest rates still dropping, I'd love to be able to refi again. We refi'ed in August 2010 (4 yrs into a 30 yr loan) to a Pen Fed 5/5 ARM at 3.25%. The local credit union has a 7/1 (15 yr) for 2.5% but with a 1% origination fee and closing costs, we would just break even. The same goes for the Pen Fed 10 yr FRM at 2.5%. Projected payoff is eight years so I really don't care about the term (i.e 10 vs 15 vs 30 yrs) of the loan, only the interest rate. Is there anyone other than PenFed who has no closing costs loans for 2.5% (no points) or less? TIA.

-Steph
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Author: BookishFool Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 124425 of 127815
Subject: Re: Who has no closing cost refis? Date: 11/15/2012 5:18 PM
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Don't know what your balance is (which might make the payments cost prohibitive), but we just refi'ed into PenFed's 5 year Home Equity Loan at 1.99%, no closing costs.

In my shopping, I found nothing else that even came close to touching that deal.

good luck,
~mary anna

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