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Refinancing a Mortgage?

We pay 6% now, and I know there are better rates out there. Our problem is that we will likely be relocating to a different state next year, so I don't want to pay closing costs (it wouldn't be worth it). Has anyone refinanced without closing costs? Any companies you'd recommend/avoid? I hate paying more than we have to.

 
Scuba

Asked by Scuba at 2:45 PM on Sep. 20, 2010 in Money & Work

Level 34 (64,138 Credits)
This question is closed.
Answers (3)
  • I refinanced through the original bank and there were no closing costs. They had lower rates and were able to just switch the loan to a lower rate.
    confused969

    Answer by confused969 at 2:47 PM on Sep. 20, 2010

  • If you are moving in a year, it will not make sense to refinance unless your existing mortgage lender will refi with no points and no closing costs.
    tasches

    Answer by tasches at 5:58 PM on Sep. 20, 2010

  • Yes, I agree. There's no reason to refinance if you plan on moving.
    HotMama330

    Answer by HotMama330 at 6:57 PM on Sep. 20, 2010