refinance my mortgage now with no fee and lower rate?

Question by Homeonwer in California: refinance my mortgage now with no fee and lower rate?
I have mortgage with Wells Fargo fix 5 years, its only my 2nd year,can I still ask them to refinance w/no fee?

Best answer:

Answer by Jeromy W
it never hurts to ask….ask them about their streamline process, from what I understand they have a program for wells to wells refi’s that’s much quicker, good luck

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One Response to refinance my mortgage now with no fee and lower rate?

  1. Jon S says:

    There’s no such thing as no cost refinance. Even when people say they got a no-cost refinance—they really didn’t.

    For example, right now there’s a commercial on TV advertising $ 2.99 gas for the 2 years!!! Does anyone truly believe Dodge Auto Company is being nice?

    Everyone knows that a gallon of gasoline cost between $ 3.80-$ 4.50 depending on where you are. So why do people take the $ 2.99 marketing ploy? Because advertisers know will buy when they hear FREE. Maybe this is why car salesmen have the reputation they do. It’s dishonest…but people buy so they keep on selling the “bait and switch” approach…

    Same with the mortgage industry. When you do a home loan there are lots of people involved in the process and all these people run legitimate businesses and all of them have fees.

    Banks have underwriters who are on salary, your home will have to be appraised, you’ll probably need a survey, your loan company is not a non-profit, and the title company isn’t either. So when you’re hearing “NO cost refinance” all the bank is doing is offer you a higher rate without individual fees like title, appraisal, survey, loan origination. So chances are when you get a NO Cost refinance you end up getting a much higher rate than necessary.

    Or back to the car example, all Dodge is doing is selling a car for a higher price, say 1-3K more, and then offering “Free gas.”

    Don’t fall for it. In fact, if someone says they offer no cost anything beware.

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