I just wanted to post about my recent experience with a refinance. My credit rebuild goal was to get to a point to make this happen. I made it in June and on the 10th, started applying. I applied with State Farm bank, Quicken, Rocket, U S Bank (existing lender) and on Lending Tree. My score wasn’t as good as I wanted it to be but good enough. This made it where I couldn’t get the absolute lowest rate. All of them were negotiating right at 4.75% with giving me an option to buy down points. Lending Tree had hooked me up with a company called Royal United. Chris (Last names cannot be used on myFico unless they are considered a "public" figure) claimed he could close in 10 to 21 days. Everyone else was 45, 60 or more. I continued the application process with all at the same time. They were all asking for tons of paperwork except for Royal United. A few days later, Chris called and asked if I was ready to close on the 26th. I thought What? You don’t have any income or tax stuff. He said he had all he needed. Sure enough we closed on the 26th. Now their closing costs were about $1500 higher than everyone else but the speed was worth the extra cost. My stress was over and I closed at 4.25% after buying down a point and a half.
This was just an amazing experience. It was super easy and lightning fast. I would recommend Royal United and Chris to anyone looking for a mortgage
What was your rate and terms before the refinance? A rate of 4.25% WITH buying 1.5 discount points seems pretty high. Plus $1500 higher closing costs.