Quote:
Originally Posted by jabrabu
I called Bank of the West, which was painful. Dozens of voice menus to go through, enter account number and last 4 of SSN, etc. Then a very long hold (20+ minutes) until a person answers and asks all the same stuff I just entered. Then transferred to another department and more menus, holding, and asking for the same info again. Finally connected with a person who was pretty gruff and didn't sound like she wanted to help.
So the info I got was 4.29% for 8 or 10 year term. Longer term, up to 20 years is 4.49%. They charge a $399 processing fee to refinance.
My current rate is 5.74%, so at 4.29% I'll break even on the processing fee in 5 or 6 months, so it sounds like it's worth it to refinance.
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I had the same experience. Started thinking....if B of W is this hard to deal with to give them business, what will they be like after they have my business?? Decided to make extra principal payments and keep the interest rate I have (5.15%).
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