So my table tennis buddy, Justin Smith came over a couple weeks ago and played a few games with Austin and me. Cathi (the social giant in our family) got some details about what he does for a living and he helps people with mortgages. I told him that we were thinking about refinancing as soon as we could get a full percentage point lower.
I told him we were on a 30 yr fixed for 5.625%. He said he could get a full percentage point now. So he ran some numbers. He said he could get us even down further to 4.375% for a 30 year fixed if we bought down the rate. We jumped on it and got the ball going including getting an appraisal, getting a bunch of documents emailed to him.
Within like 10 days or so, the underwriters had done all their homework and we went in to close a couple days ago. Justin was there to discuss any other questions we had at the time of closing. It went really smooth. We had the kids and they had toys for them to play with. Cathi said that was the easiest closing she's ever been to. Very painless, explained very well, done quickly, and we're saving over $300 a month. Plus we paid down our second mortgage by over $14K with this new loan, and within a year we'll have that paid off.
I was very impressed with the whole process and with the speed at which Justin was able to get things turned around. When I called or sent an email he was back with me in less than an hour. I would recommend anybody who wants to get a great deal on refinancing to get in touch with Justin right away before rates start to climb back up!