Is 3.875 a good rate for a 30 year refinance at 85% LTV? I have a credit score of 810

I am a Local Illinois lender located in Schaumburg. Please feel free to contact me if you would like to compare your options. I would need just a few more pieces of info to give you a proper quote. Since you are above 80% LTV, that puts you in PMI territory, but then again you may qualify for a HARP refinance with no PMI required. barb.lanis@1amllc.com 1st Advantage Mortgage

Hi jimand, thanks for the question. It depends on the type of refinance you're doing and how much the lender is making on the deal. With your score and LTV I'd say you should be able to obtain a rate of 3.50% or better as of today. I'd be able to give you an additional rate reduction if we solidify something this week - please contact me if you would like a more thorough second opinion. Thanks. Sam at www.silvercreekfinance.com

if it's an owner occupied, single family, no cash out refi, you should be able to get closer to 3.375% on a 45 day lock.

I'd say it is likely you can do a little better. I work for a local lender and can easily assist you. Please call or e mail me and I can get your questions answered.

Defintiely need more info like is this a primary residence, or a 2nd home, or a condo, and is there someone else on the loan with a lower score, does the loan have LPMI, is it a HARP loan, is it a HARP LP or Fannie loan,etc. There are a lot of pieces missing but get a quote from all those above and compare to what they have and also keep in mind that if you are told a rate today it can and WILL change between now and when you close. If the quotes are estimated for a rate that will be locked in 30-45 days from now, plan on the rate going up.

Lots of variables in that rate, assuming it is a HARP eligible loan I'd likely be quoting something lower than that as your best option - as I expect others would as well.

Historically speaking...absolutely. Happy New Year!