Regardless, you should still shop around to see what others offer.
Lenox Mortgage, Inc.
As a realtor in the Destin area, I would give you the same suggestions that I give my buying clients--be sure to comparison shop with at least three lenders, get their good faith estimates, and put them side by side and see who is going to give you the best deal that fits your personal needs. Generally, lower interest rates have higher up front closing costs. Someone elses interest rate might be slightly higher, but the lender charges are less. Put their good faith estimates side by side and compare apples with apples. Also, the new HUD-1 that went into effect in January makes your job easier--there is a standard form that makes the lenders compare apples to apples. If you know someone who works for a title company, they can draw up a preliminary HUD for you as well If I can be of any other assistance to you, please do not hesitate to call me or send me an email.
Myke Triebold, GRI,LMC
As far as going back to a 30 year payment, you can always shorten that by making extra payments to principal. In my mind, the best time to refinance is in the beginning, when you have only paid a limited number of months off.
I would be very happy to look over your loan and tell you if I can do a better job for you. My phone number is 800-801-1080.
Faith Home Loans
800-801-6080 (outside of FL)
Co-Owner / Licensed Mortgage Consultant
Primary Mortgage Group