You're right about credit unions often providing competitive rates, especially if your credit's solid. I'd just add a quick note of caution—while refinancing can certainly reduce monthly payments and ease stress, it's important to factor in closing costs and how long you plan to stay in the home. I've seen clients refinance only to move shortly afterward, negating any savings. Also, regarding HARP specifically, that program ended a while back, but there are other streamlined refi options available now that might suit your situation...worth exploring those alternatives.
"it's important to factor in closing costs and how long you plan to stay in the home."
Good point here. I refinanced a few years back thinking I'd stick around longer, but life had other plans...ended up moving sooner than expected and barely broke even after factoring in closing costs. Definitely worth crunching the numbers carefully. And yeah, HARP's gone, but lenders still offer some decent streamlined refis if your credit's solid. Worth checking out FHA or conventional streamline options—could save you some hassle.
Haha, this hits close to home (pun intended). We're house hunting now and I keep hearing horror stories about surprise costs popping up.
"ended up moving sooner than expected and barely broke even after factoring in closing costs."
Did you find any calculators or tools helpful for crunching those numbers?
"ended up moving sooner than expected and barely broke even after factoring in closing costs."
Been there myself... honestly, the calculators online are fine for ballpark figures, but nothing beats sitting down with someone who knows your local market. Learned that lesson after a surprise septic tank fiasco—ouch.
HARP ended back in 2018, so unfortunately that's off the table now. But if you're underwater or tight on equity, might wanna look into a High-LTV refinance through Fannie Mae or Freddie Mac... pretty similar process and could still help you save some cash monthly.