05-05-2008, 02:41 PM
I know we are all mortgage lenders here so I thought I could get some help 
Basically I am trying to figure out if I should try to refinance my home loans.
I know the fed has cut key rates to the 2% range, I also know that this does not necessarily mean equally low home loans. What I don't know is who I should talk to about figuring out if I can get a better deal than I signed up for last year.
Should I talk to my original mortgage broker guy? He was very nice and helpful, I would trust him again. I could also call Bank of America who has my 1st loan, or Countrywide who is servicing my 2nd loan. (The two add up to what I paid for the house).
Consolidation seems like a good idea, and since I have a 5/1 ARM (interest only) it would be good to lock into a low rate now if I can. Although, I did qualify for a low interest rate last year (great credit score) so I don't know how much lower it could get.
I guess I am most concerned about who to talk to, any experiences on who go to for help with this stuff?
Basically I am trying to figure out if I should try to refinance my home loans.
I know the fed has cut key rates to the 2% range, I also know that this does not necessarily mean equally low home loans. What I don't know is who I should talk to about figuring out if I can get a better deal than I signed up for last year.
Should I talk to my original mortgage broker guy? He was very nice and helpful, I would trust him again. I could also call Bank of America who has my 1st loan, or Countrywide who is servicing my 2nd loan. (The two add up to what I paid for the house).
Consolidation seems like a good idea, and since I have a 5/1 ARM (interest only) it would be good to lock into a low rate now if I can. Although, I did qualify for a low interest rate last year (great credit score) so I don't know how much lower it could get.
I guess I am most concerned about who to talk to, any experiences on who go to for help with this stuff?