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Answers (1)
- Robert Lowery, "Bob Lowery"
- Contributions:2097
Rates are no longer well below 5%. And, the government does not control the rates. These are driven by the market.
That is not a bad rate based on the fact you are around 105% LTV. It depends on your current rate on whether it makes sense to refi or not.
Does the government set interest rates under HASP?
BoA told me that the rates under HASP are controlled by the government. I was quoted 5.375% with great credit and a LTV less than 105%. No closing costs, but $400 application fee and $725 lender fee. With rates well below 5%, I'm not sure if this is a good deal. For $1856 I can buy down the rate to 5.25% Any expert advice...
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