Best place to refinance

[TheSiege]

I want to refinance my house, I have 122K left on it and 25 years left. I'd like to refinance to make the payments low enough to rent and have a little cushion. But where is the best place to go and not have to pay a bunch of fees and what not. Anyone?

 

[microAmp]

I went to the same bank that I already had my original loan with, Wells Fargo. I also considered the bank I have checking/savings with but their interest rate was a tad bit higher than Wells Fargo.

My guess is you'll have to pay fees no matter what, I was surprised about how much it cost me to close but the amount of savings in the end easily helped that feeling. You can also roll your closing into refinance too, if you don't want to write a huge check right away.

Refinance loan was still below 20% of estimated value of my house.
Old loan 30yr 6.375% (5y7m or so into it)
New loan 15yr 3.375%

 

[ISAslot]

Check out the fatwallet forums: http://www.fatwallet.com/forums/finance/

 

[KK]

I tried to refinance thru our current mortgage holder, citi, and they dicked around for too long. I went to my credit union, was able to get a lower rate plus their appraisal came in higher, enough that it will get rid of the PMI. Supposed to close on Monday.