VA Loans / Refinance...

[Costa]

For those who are looking for a resource on this:

http://www.mortgagenewsdaily.com/mortgage_rates/

This daily survey provides a rate spread of where mortgages are being executed.

Last year I was able to get a 2.75% with a little over a point in a credit back to me on a cash out refi. Used the proceeds to build a pool and I'm already back to 20% equity on my loan a year later. (only have had the home for 4 years total)

Pay attention to the cost to the lender (points). Smaller private lenders generally are better than big box lenders. I used a local guy that I've done 4 loans with, and USAA, New Day, and Veterans United could not touch the deal. Sure they could get a lower rate (I believe 2.25 was on the table back then), but the cost would have outweighed the benefit. It's not all about rate...

[Badger52]

Originally Posted by Costa

Pay attention to the cost to the lender (points). Smaller private lenders generally are better than big box lenders.

Not certain if germaine to this particular lender, but we found a long time ago that smaller and/or local was the way to go due to much less likelihood that the latest pirate would come along, buy the company, sell off the notes to be managed from Zagreb and the individual customer be damned. For us, in this area, "less" has been more.