If your current lender is not interested in a low or no upfront cost refi, it may be that they’re heavily relying on the fees to make a profit. Regardless, if they’re not willing to do it, then they’re not.
Go look around on bankrate.com. I recall a 15 year at 4.75% from last week. Some of them have fees that are considerably lower than what you quoted.
You have very healthy equity in the property. Is it in a market with heavy downside pressure on resale value of late, moderate declines, or reasonably stable? If you’re in a former bubble area, I’ve heard of 30% equity required for refi, on a current appraisal.
“You have very healthy equity in the property. Is it in a market with heavy downside pressure on resale value of late, moderate declines, or reasonably stable? If you’re in a former bubble area, I’ve heard of 30% equity required for refi, on a current appraisal.”
I think we’re still losing value here due to the economy, and the lack of jobs in the area. But what I’m losing is pennies compared to other areas. It’s an older 2100 sq ft home in an established area. I’d say we’re pretty stable here as far as real estate values. I can’t see the home losing much more than another $5k-$10k in value.