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Shopping for mortgage rate.

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    Shopping for mortgage rate.

    My current rate is 4 percent. Rates are going lower so I am looking for low closing cost and at least 1 percent lower rate. Is that a tall order? Any suggestions. My credit union is at 3.5 percent. Pfft.

    #2
    Not a tall order at all. I re-fi'd my primary in May at 2.75% (15 year) and just got an offer this week from my lender that he can do 2.5% on my SFH rental (also 15 year) which is unheard of for an income property. You should be able to find a 30 year around 3% but maybe consider a 15 or 20 year to really take advantage of the lower rate. How many years do you currently have left to pay? I've always found credit unions to have the lowest closing costs - maybe shop around some others in your area?

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      #3
      wish i could get that.
      LivingAlmostLarge Blog

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        #4
        3.5 is horrendous right now. you should look to get sub 3% no points if you're going back to a 30 year. If 15 or 20 year, you should be looking at mid 2%

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