What's better?

[Anonymous]

I just got a mortgage back in January with a not so great interest rate.The mortgage company has been calling me to offer a better rate through a streamline refi.My  LO  in the meantime has jumped ship and is constantly reaching out to me with lower rates offers.I am tempted to go with the existing mortgage company to mimize headaches down the road (paperwork).Advise please.

[NC_Mtg_Loaner]

A streamline refi doesn't require much paperwork regardless of who originates it.

If it's an FHA Streamline Refi, you may want to go with whomever can "pay" you the most lender credit as well as provide you with the lowest rate unless you don't mind investing a little bit more in 'buying the rate down'. 

[Anonymous]

That helps.Thank you!

[Shooting-For-800]

How much lower of a rate?

Any penalty from your existing mortgage?

How much will the refi cost?

Points?

You need to know all the answers.

[Anonymous]

A whole percentage point

No prepayment penalty

No out of pocket funds as it stands.