I've seen credit unions recommended a lot, but honestly, they're not always the magic bullet either. Had a friend who went that route and still ended up buried in paperwork...sometimes it's just luck of the draw with lenders.
Credit unions can be hit or miss, honestly. When I refinanced a couple years back, I went with a local credit union thinking it'd be smoother and cheaper. Sure, the rates were decent, but the paperwork was still a nightmare—felt like I was drowning in forms and follow-ups. I think you're right about luck playing a role, but also doing your homework upfront helps. Comparing lenders carefully saved me from even bigger headaches down the line...
Good points there—credit unions aren't always the magic bullet people make them out to be. I've refinanced twice now, once with a big bank and once with a smaller lender, and honestly, both had their own headaches. Big banks felt impersonal and slow, smaller lenders were friendlier but sometimes disorganized. Curious though, is HARP even still around these days? Thought it ended a while back...or did they replace it with something similar?
Yeah, you're right—HARP wrapped up a while ago, think it was around 2018 or so. Pretty sure they replaced it with something called the High LTV Refinance Option. Has anyone here actually tried that one out yet? Curious how it compares...
I looked into the High LTV option briefly last year when rates dropped—didn't end up pulling the trigger though. From what I gathered, it's pretty similar to HARP but with tighter criteria in some areas. Heard from a friend who did it that paperwork was a bit of a headache (surprise, surprise...), but overall he seemed satisfied. Might be worth exploring if your equity situation's tight and you can snag a better rate.
