"We are looking to refi with a company other than our current mortgage company. Got a quote we liked, went through the whole process, suppossed to close tomorrow (7/13). All along he has said that the cost to close would be ~$4300 to $4800. We planned to pay ~half out of pocket and roll the other half in. Tonight, I contacted the lender to see what amount to make out the check for. The actual cost to close is $6000. He claims they need 13 months taxes in the escrow account rather than the 3 month..."    View Post

"Thanks for the advice guys. I am in NC. Closing costs the first time around were in the neighborhood of 4k, but we paid some points to lower the rate. I guess refinancing would only really make sense if rates got in the mid to lower 4s. I still find it odd that we haven't even made our first payment yet, and I'm thinking about refi. :) Thanks again for your thoughts! Ken"    View Post

"Hi, My wife and I just bought our first home about a month ago. The loan was for ~$136k (78% LTV) @ 5.625% for 30-yr fixed. Our credit scores are fairly high (middle score was 760 before acquiring loan) and we have a low debt ratio. With interest rates dropping so much, should we consider refinancing? Would we even be allowed to do so since the ink has barely dried on the original mortgage? In doing our calculations pre-loan, 1/8% difference saved us about $10 a month for 30 yrs. So if we could get..."    View Post

"Thanks everyone for your input. We've decided not to get one. I appreciate your quick responses!"    View Post

"I am wondering what everyone's opinion is on getting a home inspection on a brand new home. We had the house built and watched most of the progress, but we are far from building experts. Would getting an inspection be a waste of money (it has a 1-year warranty) or could the few hundred dollars be worth the piece of mind? Thanks in advance for your input! Ken"    View Post