Reply #5: A tip if you're rolling the settlement charges into the refi.....

[jojo54]

wait for a rate drop of at least 1 1/2 % or more because you'll find it tacked onto the back end of the loan. When you go to sell is when you'll feel the squeeze.

Also, don't go with a mortgage broker - they just wind up selling off the mortgage and it could be to some crappy lender who tacks extra charges onto your loan, and they don't have to tell you squat. See if you can get it on paper that your mortgage won't be sold after the refi.

These are just a few tips 'cause hub and I have gotten screwed literally, out of nine thousand dollars on 2 mortgages and 5 refi's. It took us almost 3 months to complete the mortgage on our most recent home because we did some much research and demanded answers.

Be careful and good luck.