Where to find good rates for refinance?

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Gemini_IHB

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I live in Irvine/Newport Beach.

My loan on my Chicago home is with CountryWide. Their current fixed rate is 5.25%. I heard people can refinance now at or below 5%.

Where to find such rates?



Any good lenders out there with really good rates?



My FICO score is excellent. We are both (wife + I) working good paying jobs.



Thanks in advance.
 
[quote author="Gemini" date=1232415194]I live in Irvine/Newport Beach.

My loan on my Chicago home is with CountryWide. Their current fixed rate is 5.25%. I heard people can refinance now at or below 5%.

Where to find such rates?



Any good lenders out there with really good rates?



My FICO score is excellent. We are both (wife + I) working good paying jobs.



Thanks in advance.</blockquote>
Try aimloan.com or penfed.org
 
I would recommend to use Zillow mortgage service. You need to create a Zillow account and submit a loan request. You will get replies from mortgage brokers quickly. In my case, I was looking for a purchase loan of $620000. I got ten replies in one day. Like eBay, the brokers have feedback scores as well and pick a broker with higher score is recommended. I am able to get a rate of 4.875% for 30-year fixed. I will pay a broker fee of $2000 and there is no point. However, the rate fluctuate daily. I heard if the stock market drops a lot (200+ points in DOW) in one day, the mortgage rate will be good at that day. As you are doing refinance, you can pick such a date for your loan request.



Victor
 
FYI, last week PenFed instituted a 1 point origination fee for ALL refi's. So their 5.0 with 0 pts offer *really* has the point built in. SO glad I signed up for an acct at PenFed to try for a lower rate/fees. When I asked them why the did it, answer "Because we are inundated with refi requests."



My friend just locked a refi with Countrywide for 4.875 with 1 point.
 
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