Looking for a 30 year fixed refi.  Any idea on what rate I can get without points?

Hey Charles hit the directory and find a mortgage professional in your area and contact him or her----go local.  Good luck.

You would probably want to go FHA with that FICO score.  Rates change daily, and you need to look at all closing costs, not just points.  Give me a call or email and I'd be happy to help.

Before talking interest rate we have to figure out WHAT we are doing.  What type of loan do you have now, what rate are you at now...that would make a difference in whether a refi even makes sense to do.

FHA is a great loan but it introduces monthly mortgage insurance.  On your loan, the MI on an FHA loan is about $110 per month which could completely mitigate your savings.  If you already have an FHA or VA or Rural loan, I would look first at a "streamline refinance" that does not involve income documents or an appraisal.

If your loan is currently "owned" by Fannie Mae or Freddie Mac and you don't pay MI now, I would look to using the HARP program...a special program that is part of the economic stimulus package.  I can look that up by property address on the Fannie or Freddie website.  This program accepts a 650 score.

With this information I can properly quote rate/closing costs/APR and can also advise whether it makes sense to do.

Good Morning Charles,

I just hopped on this today.. did you get this taken care of or are you still in need of help?  Ratewise I would guess you should be somewhere around 6.0 (6.082 APR) without paying points with the primary factor impacting your rate and costs being your credit score.  This is only an estimate and not a guarantee to lend or rate lock based upon the limited information provided above. Have you had someone do an analysis of FHA even though it has MIP for 60 months for you the rate is signifigantly lower or even the possibility of paying the points and the tax ramifications?

Email me if you would like to talk some more about your different options. damian.fischer@wjbradley.com

Damian