My wife and I are wondering if its smart to refinance while the rates are low. Currently I have a 30fixed FHA loan of $170,000 at %5.875 and we have been living here for a year and a half. My mortgage is $1536/mo. My wife is not on the mortgage yet as I took advantage of the tax credit of $8000 before we got married because she owned a property before.
My credit is 685 across and hers is around 730. If we refinance, who would you recommend and are there ways to avoid putting mondy down for closing costs?
