We refinanced with our home town bank (Old Fort Bank) and saved years and $
1000's on our home loan. All the banks have good mortgage interest loans.
Check with your bank.
Here is 5/3 site.
Link: https://secure.53.com/mortgage/app/rates
Closing cost are around $1600. If you can drop your rate by 2%, you will
save money.
Here are a few reasons you may want to consider refinancing:
To lower your interest rate (which will result in either a reduced monthly
payment or a reduced term)
To consolidate your debt into one loan (which may reduce the monthly amount
you spend per month)
To reduce the monthly repayment amount (in case of a job loss, medical or
unexpected expenses)
To reduce or alter risk (such as switching from a variable-rate to a fixed-
rate loan)
