Anyone heard of this refinancing at under 4% for 10 & 15 year fixed loans for $1000 total closing costs through Quicken loans.

Just got a call and got tired of listening to the pitch so I tiold them to call me tomorrow, but are rates really down to 3.75%????

My CU Rates

Term Rate Discount
Points* APR
Fixed Rate 10 year 3.875% 0 3.990%
15 year 4.000% 0 4.080%
20 year 4.500% 0 4.588%
30 year 4.625% 0 4.672%
40 year 4.875% 0 4.914%
Adjustable Rate
(Index: 1 year CMT 0.25%) 5 year 4.000% 0 3.311%

I guess or a grand, (if it really only costs a grand) it might be worth it to go to the 10 year from the 15, but I think I am at 12 years right now??

jeff. whats the number. i got screwed by key bank. my intrest rate is HIGH. would like to see if they could even finance a 1993 boat.

I'm sorry for the confusion. I meant this is home mortgage rates.

Friend of mine owns a Mortage Company and I have bounced the re-fi off of him, he quoted me last week 3.75 for 15 and 4.5 for 30... so yes it is possible

Certainly seems reasonable to me - I am locked in at 4.25 30 Years 0 Points 0 Originiation fee - Closing Oct 11 hopefully.

Ha! whoops. But on subject i did a re-fi 6 moths ago for 4.39 with nothing down. i bet they just rolled closing costs in or something. they got me somehow i am sure but overall it was a good move. always re-fi when you can.

Read the fine print...title insurance policy's alone are over $1000. As a direct lender NOT A BROKER my fees are $12-$1400. Its the 3rd party fees that add up which the mortgage MUST DISCLOSE to you. You home owners insurance and property tax escrows, filing fees at the court are per page and are usually $3-$350. The title companys cost to close are usually between $250-$500 depending on the title company.

Just did a refi for a friend, 666 median credit score, went to 87.5% Loan to Value, 4.25% 15 years, NO POINTS or APPLICATION FEE, he had $2640 alone in escrows (4 months prop taxes, and 6 months home owners insurance) his title insurance policy was $2700 inc a $375 closing fee from the title company that he chose, and his recording fees to the court were $300...loan amount was $390,000 and his TOTAL cost including all 3rd party fees were about $6900. My fees which were included in that were only $890, which was due to me waiving the $495 app fee.
So to answer your question YES i can do it for $1000.00 BUT the other parties involved are where your fees add up. He will get an escrow credit from his prev mortgage company when the loan is paid off for however much was in his escrow acct.

Hope this helped

nothing down doesnt mean no cost...the loan mentioned above was also done with nothing down...all fees were rolled into his loan amount