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Mortgage Rates - Unknown/Newer Companies

Started by Irish247, July 08, 2021, 03:58:27 AM

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With the latest mortgage drops, I'm considering refinancing out of a 2.87 rate, and found some rates today in the 1.75-1.99 range. The companies are lesser known to me, but not sure that matters?

Has anyone worked with these smaller brokerages/loan companies: Interfirst, Sebonic, amerisave?  Seems like with these I can drop my monthly payment down and cut from 2.87 to 1.75 nearly a full point. They are saying zero points, and zero cost for the refinance (which I'm sure is baked in). These rates are on 15 and 30 year mortgages too. How is this possible? Too good to be true? The 15 and the 30 are giving better than the ARMs.

Considering my house increased roughly $200k in value, I'd almost consider a cash out refinance at these rates. why not do it?