I'm in the same situation and currently with First Republic at 4.75%. While i'm happy with them, I wish there was competition and space to negotiate. I'm looking at 3.65% with $4000 in fees and a 1% prepayment penality if I sell or refi within 5 years. It goes to 3.9 without the 1% prepayment penality. I can't seem to find any other banks who handle coops either.