Help Needed with House Refinance

[Jodha]

Hi ,

Recently closed a house with K Hovnanian builder  in Monroe, NJ area .

I was forced to close with K KHovnanian mortgage company  as builder was offering 40k lender credits but ended up paying 7.5 % towards mortgage rate .

I feel 7.5 % is very high mortgage rate in current market , looking for refinancing the house for lower mortgage rate .

Any suggests on refinancing ? Any referral or any leads ?

Thanks

[sai1685]

Shop around buddy ... you will get better deals .... but keep in mind that you have to pay closing costa again. If you get rate atleast 0.75% or more discount than the current rate then go for it. Otherwise it is not worth it

[Jodha]

Thanks Bhayya 

 

[Thokkalee]

4 hours ago, Jodha said:

Hi ,

Recently closed a house with K Hovnanian builder  in Monroe, NJ area .

I was forced to close with K KHovnanian mortgage company  as builder was offering 40k lender credits but ended up paying 7.5 % towards mortgage rate .

I feel 7.5 % is very high mortgage rate in current market , looking for refinancing the house for lower mortgage rate .

Any suggests on refinancing ? Any referral or any leads ?

Thanks

Though 7.5% is high, it costs you 3-6% (depending on the state, some even more) of the loan amount as closing costs,  if you refinance. If you go for a zero cost loan, the rate will be much higher and it may be close to the rate you got. Better shop around, get the rates and do the calculations… 

[nvssr]

Austin First Mortgage try chey best echaru everytime - not sure if they do outside of texas