interest rate?

for 15 years loan, how low can it be right now?  I want to refiance. did Anyone refiance recently and get a good rate?

I had a rate (3.75%) locked last friday. it's 200K / 15 years, no closing cost.

thanks.  This week is up. I will get 250k loan,

3.75% - who is the lender?

引用第1楼游客于2010-11-16 16:26发表的  :
I had a rate (3.75%) locked last friday. it's 200K / 15 years, no closing cost.

No closing cost? No way! There has to be a closing cost. i.e. appraisal fee, bank fee, county recording fee, mortgage tax....etc. All these fees add up to thousand and thousand of dollars. Someone has to pay for these fees. Who? The borrower of course!
I think what you meant was " No point " rather than " No closing cost ". Please check again and make sure with your lender.

it's a refinance, no closing cost. (3.75, 200K, 15 year term).

with closing cost, you can get 3.25%.
no closing cost = no cash cost

loan of $200,000, term = 15 years
3.25%, monthly mortgage payment = $1405.34
3.75%, monthly mortgage payment =  $1454.44

180 (months) * 54.10 =  $9738.00

the present value of $9738.00 = 9738 / ( 1 + 0.04)  || 15
             = $5199.00               
   [note: (1= 0.04)||  15 　是 1.04  的15 次方]

The real closing cost is $5199.00 when you choose 3.75% without paying cash as closing cost.

If you can pay cash closing cost less than $5199.00 and choose 3.25% as the mortgage interest rate, you will be better off.

回4楼。这是从亚特兰大某华人贷款公司网站上抄下来的“无过户费重新贷款的6个常见问题”的前两点：
FAQ for No-Closing-Cost Refinance

1. Who is paying the actual cost related to the refinance?
Compared to the conventional refinance with closing cost, you take a relatively higher interest rate so the lender will cover all closing costs which include intangible tax, appraisal fee, attorney fee, our commission, etc. You certainly can take the lower interest rate and pay the upfront closing cost, which is roughly ($2650 + 0.5% * Loan Amount). Compared to no-closing-cost refinance, it takes about 3 to 4 years to recover the closing cost. In other words, if you plan to stay in the house for more than 3 years, paying the closing cost for a lower rate is not a bad idea at all. Please discuss that option with us if you are interested in it.

2. Why am I getting a higher rate than my co-worker who called you the same day?
Since lenders are paying the expense for your no-closing-cost refinance, they expect to recover the cost in the next 3 to 4 years through your interest payment. If you have a bigger loan amount, the lender will give you a lower rate. Vise versa, you will expect a higher rate if your loan amount is smaller. Also if you get the loan originally from us, we should be able to refinance you to the same lender to avoid 0.3% GA intangible tax, resulting in a lower rate. On the other hand, if your house value has decreased and we have to put you into Obama's Refinance Plan to avoid mortgage insurance (PMI), you rate could be higher. Other factors to affect your rate include your credit score, your loan-to-appraisal-value ratio (LTV) and if you wish to do cash-out refinance.

dear Sir, looks you have to get a better agent or mortgage company will explain all to you. there is " No closing cost " for refinancing. who pay the fees? sure you have to pay ---but, these fees melt in you interest! for example: the rate suppose to be 3.5% with closing cost. but, you will get 3.7% without closing cost.

引用第4楼游客于2010-11-16 21:01发表的  :

No closing cost? No way! There has to be a closing cost. i.e. appraisal fee, bank fee, county recording fee, mortgage tax....etc. All these fees add up to thousand and thousand of dollars. Someone has to pay for these fees. Who? The borrower of course!
I think what you meant was " No point " rather than " No closing cost ". Please check again and make sure with your lender.