I can’t remember all the details of the loan, but I do know that I bought down the loan by a .25%, which saved me $2K in the five year period. I think the closing cost was $7K. My uncle is a broker and waived his fee to help with the rate. The Loan Company I send my payment to is Aurora. I also know that the rate dropped .25% two days before closing and went up again the next day. I got real lucky with the timing on my loan, because if I’m correct March 2004 was the best time to get a loan. The Escrow closed on April 1st. I also got lucky the year before when I refied another loan on my primary residence in June 2003 (I think) and got a 15yr fixed rate of 4.75%.
