I'm 3 years in an 10/1 ARM jumbo with 3.25% rate. I found a quote for 30 year fixed for 3.125% or another 10/1 ARM for 2.875% from PNC bank. But both will restart 30 years. I want to go for fixed one but I'll end up pay more if I restart, right? Is that worth less interest? Also anyone knows if PNC is legit? I see bad reviews online but does anybody ever leave good reviews for a bank?
PNC is legit for sure, i had it 2 yrs ago. Can you share your contact for 3.125@30yr. I’d say go for lower payment now and put in the extra towards principal (e.g if 10/1 payment is 3000 and 30yr was 3200) pay 200 towards princ. If the downward trend continues (hopefully it doesn’t) you’ll be able to refi for 30 when it is sub 3% On other-hand if the bank is ready to offer you sub 3 for 30 now, id say go for it, you might have to bargain hard tho
Just apply online. I have communication issus with my contact. It's been weeks and I still don't know the closing costs.i might try someone else.
Can you DM me your contact? I’d love to get 2.875%. Are there closing costs?
I'm not happy with my contact. Very late to respond. There are closing costs but he doesn't tell me how much. It's really hard to get info. That's why I was wondering if they're legit.
PNC has been fine for me. Just refinanced with a different lender though
Their closing costs are higher than others as per my realtor.
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It depends on how long you plan to stay in your current home. You can run your numbers through a calculator to see if the refinance make sense. I would look closely at the official loan estimate to see what your closing costs are? If it’s a no cost refinance, it might be worth refinancing.