Owning.com for home refi - any experience?

[SKYLANE]

Considering a refi on my house. If processing goes through OK, i could drop from 4.125% to 3.25%...

Anyone have experience with them? A friend worked with them on a refi and really had good things to say about his experience.

[d4]

What year are you in on your current mortgage?
I was looking into refinancing, but after I did some preliminary calculations I decided against it. I'm in year 8 of a 30yr at 3.875.

[tenders]

I recently looked at refinancing too, but realized that due to the necessary payment of points to get the rate plus absurd NY state mortgage taxes, the payback period despite a very attractive 1% rate differential was 7 years.

We expect to stay here that long, but a 7-year payback period is too long to make sense. Told the disappointed mortgage broker to come back to us after wrangling the process that avoids most of the NY mortgage tax (=mortgage reassignment). Apparently that takes months due to the staffing of the company that currently holds our mortgage...but it was this mortgage broker (Quicken) that sold the last mortgage to them, so I don't feel bad about expecting them to address the issue if they want to close the deal.

[Spiff]

I was on year 6 of a 30 yr. loan. I also had a HELOC that had a variable rate. I decided to refinance and got the two rolled into one, at 3.125 rate. I have saved a bunch of $$ each month by doing this. Couldn’t have come at a better time since I’m getting a pay cut in June.

As to the original question- dunno. I went through the state credit union.

[Robert M]

Tenders,

Are you sure about the costs involved? Something sounds skewed. I'm on the tail end of refinancing the mortgage on my coop here on Long Island, NY. We close on Monday. The rate dropped from 4% to 3.62%. Would've loved a lower rate but the the rate for co-ops is always noticeably higher than the rate for houses. We're still saving nearly $300 per month as a result of the refinance. It'll take about 18 months to recoup the cost of the refinancing.

Robert

[mattkime]

tenders wrote:
I recently looked at refinancing too, but realized that due to the necessary payment of points to get the rate plus absurd NY state mortgage taxes

Are you sure, a quick google search says this doesn't apply to refis

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IMO, the company that writes your mortgage doesn't matter as long as you like the final costs. They'll sell it soon anyway.