Hi Mark! My husband and I closed last November with a 30 year fixed FHA at 4.125%. We are in the process of refinancing through Quicken Loans (they are the largest online mortgage lender and came highly recommended) with a 30 year fixed at 3.5%. We are getting a “streamline” refi, which is much simpler compared to other loans. We do not need to get an appraisal.
We owe $319,000 on the home right now and after they roll the cost of the refi into our mortgage our new balance will be $323,000. We will need to bring $1,600 to closing, and they will time our closing right before our existing mortgage payment is due so we do not have to pay it. Then, we will receive $2000 back after escrow closes.