Refinance questions

I called our mortgage holder to refinance our mortgage today. They told me that we qualify for a program where if we took a 30 year fixed rate mortgage at 4.3% there would be NO closing costs. They would not roll them into the mortgage, they would just cover them for us. He said the only fee we would have is an appraisal for $350. He said the rate for not doing it this way would be 4.1% and then there would be closing costs. He did not say how much the closing costs would be but said it would be a few thousand dollars. We plan on staying here for a year to a year and a half more. The difference between 4.3 and 4.1 is about $70. Is this to good to be true. Am I missing something? Are these good rates for excellent credit on a 30 year fixed. DH does not want to do an ARM. We would be reducing our payment by 300 a month doing this.

Re: Refinance questions

i know alot of mortgage places have programs for their current customers. i know wells fargo has a program that if you qualify you dont need an appraisal, no closing costs, etc...

Re: Refinance questions

Chase told me that everyone needs to get reappraised for refinancing since the mortgage crisis, especially as house prices have slumped.