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Originally Posted by GUINNESS
I want to refinance my house but have no clue how to go about it.... and i hate the whole having to pay to refinance 
Since we just purchased June 07, should I wait a little longer or try and jump on the lowering interest rates? |
You don't have "No-cost" re-finance options out there? You usually pay ~0.25% higher rate but the broker pays all closing costs, including appraisal, etc. The upside is, if rates continue to drop you can re-finance again with no out of pocket costs.
Paying to re-finance is money thrown out the window, since it takes years to re-coup the closing costs and rates may continue to fall which you wouldn't be able to take advantage of.