Refinancing

[Spartan]

How do you refinance without closing costs?

We did, back in '03.  Wells Fargo sent us a solicitation to refinance by mail with no closing costs.  It's possible we paid a slightly higher interest rate because of that, but we still ended up at 4.875% (15 years) and a lower payment.  It was a no brainer.

I doubt anything like that is available today.

[stroh]

From about 1997 to 2002, we refinanced any time the rate dropped .375 percent or more from the current rate of our mortgage. We refinanced 4 times and never paid a dime for points or closing costs.

How do you refinance without closing costs?

".....I'm Wesley Hoaglund, President of Lenox financial.  If you're paying a dime at closing, it's too much.  At Lenox Financial we pay the closing costs for you.  We don't roll them into the loan, we pay them for you.  If you walk in with a $200,000 loan, you walk out with a $200,000 loan. It's that simple.  Look, we're making thousands of dollars in interest over the life of the loans, we don't need to stick it to you in the closing costs.  Whether it's a new loan or a refinance call Lenox Financial now, it's the biggest no-brainer in the history of mankind."

[dystopia]

From about 1997 to 2002, we refinanced any time the rate dropped .375 percent or more from the current rate of our mortgage. We refinanced 4 times and never paid a dime for points or closing costs.

How do you refinance without closing costs?

".....I'm Wesley Hoaglund, President of Lenox financial.  If you're paying a dime at closing, it's too much.  At Lenox Financial we pay the closing costs for you.  We don't roll them into the loan, we pay them for you.  If you walk in with a $200,000 loan, you walk out with a $200,000 loan. It's that simple.  Look, we're making thousands of dollars in interest over the life of the loans, we don't need to stick it to you in the closing costs.  Whether it's a new loan or a refinance call Lenox Financial now, it's the biggest no-brainer in the history of mankind."

LOL, I always picture that guy taking a baseball bat to someone's kneecaps just after he finishes recording the commercial.

[spacey]

We got 4.375% fixed over 20 years (the title agent tells us we must have talked to the loan officer during the right 20 minutes of the last decade, she's never seen such a rate). Long story short- saves us $100s per month, and pays it off 7 years faster than we were on track for, assuming we only make the scheduled payments. I think we're happy with that arrangement.

[gleek]

We got 4.375% fixed over 20 years (the title agent tells us we must have talked to the loan officer during the right 20 minutes of the last decade, she's never seen such a rate). Long story short- saves us $100s per month, and pays it off 7 years faster than we were on track for, assuming we only make the scheduled payments. I think we're happy with that arrangement.

Lucky bastage. That's a quarter point better than our 15 year fixed.