Sure, there are people who keep their house for the long term. And how many of them don't refi at some time? My folks just listed their main house for sale that they had built in 1982. I think they refi'ed it at least four times since they've owned it. Their beach house, which they bought 10 yrs. ago for their eventual retirement, and they're moving into it permanently soon, has been refinanced twice already and will be paid off as soon as the main house sells. I've just never met anyone who kept a loan for anything close to 30 yrs.

I don't keep them that long (as I pay them off), but when interest rates are VERY low, I'll lock into a 30 yr fixed rate in a heartbeat. I guess that's my point...there are scenarios that do make sense for some people (as was my case), so one should not categorically dismiss 30 yr/fixed loans as an option for all younger buyers.

Send me your best Good Faith Estimate, and I will gladly beat the cost by $350 (the cost of an appraisal), or beat the rate by an 1/8, and sometimes both . I do this for all of the 914 owners on my website, and I have no problem offering the same discount to other Porsche guys as well.

my email address is "silva.greg AT gmail DOT com"

I lend nationwide, and someone was right when they said that most costs are determined by the state and county you live in.

I can beat B of A and Wells all day long (sometimes with their own rates) . The rates they offer my company, are better than the rates they offer their own branches.
:)

I'll even give free advice if you choose not to use me.

This isn't a sales pitch, I'm just trying to help out other Pelican members