Looking for some advice on a refi with Navy Federal. Currently I have my loan with PenFed with a 7.7% interest rate. Navy just approved me for a refi but with a 12.29% interest rate. My reason mostly for wanting to refi is because I’m not really happy with PenFed as a bank mostly. Navy is offering $200 for refinancing with them right now as well.
My question is would it be smart to go through with the refi even though the interest rate is higher simply because I want it with a different bank?