refinance mortgage

SplashMom
Fri, 13 Apr 2012 14:12:46 +0000

We recently refinanced to decrease the life of the loan from 30 years (with 27 years and one month left) to 15 years and to reduce the interest rate (from 5% to 3.375). I heard this morning that 15-year loans have actually gone down to 3.1% now! We went through a local mortgage company, Churchill Mortgage, and the process couldn’t have gone any smoother. We did everything via computer except for the closing which took approximately 45 minutes. Of course they sold our loan to a big bank which they’d told us they would do.