Bank of America, Wells Fargo Stramline Refinance mortgage rates

Bank of America Wells Fargo Streamline Refinance
I have never seen lower mortgage rates than these. Who knows they may keep going down or they may pop up a little but either way they are still a good deal. If you have a mortgage through Bank of America or Wells Fargo then you should call them to try to do a streamline refinance deal. First before calling other mortgage companies. Why? well, when you go through your current lender in my case Wells Fargo they all ready know you and your accounts, they just sent me the package of paperwork in the mail and I filled it out and had it notarized and mailed it back to them. Total cost to me $10.00 for the Notary. Pretty great deal for a mortgage I couldn't believe it myself. So if you have a current mortgage through Wells Fargo or Bank of America and you are thinking of refinancing call them first and ask about a streamline refinance.
Mortgage Rates
     Mortgage rates today are around 3.8% for a 30 year fixed rate loan and about 3.6% for a 15 year fixed rate loan. Those are fabulous rates for anyone out there. The question is should you refinance and can you refinance you home loan? Okay first of all should you? Well if you have a home loan that is more than one percent higher then the rates above then it might be a good idea for you to refinance. This will put more money in your pocket every month. However remember that you will be going back to a 30 year loan if that's what you choose. So if you only have 23 years left on your mortgage that might not be very palatable to you. Unless however you know that you are going to move in say five to seven years or so. Another option for you and this is one I really recommend is going to the 15 year fixed loan. For a couple of reasons. You get a lower interest rate right off the bat. But my main reason is that more of the money I pay in my mortgage goes straight to principal pay down in the 15 year loan than in the 30 year loan.
     So for instance if I got a 30 year fixed 4% loan for 200,000 dollars my payment would be $954.83. Not bad, each month of that payment 294.83 of that payment would go to principal. At the end of the year I would have paid down my loan to $196,397.11. However if I would have gotten a 15 year fixed rate mortgage at say 3.8% for the same 200,000 dollars my payment would be $1459.00. That is quite a bit larger of a payment about $400.00 exactly but every month I have this loan I pay $819.41 in principal on my loan, now your thinking that's not such a bad deal right. At the end of the first year I still owe 189,992.18. Quite difference over the 30 year loan. 
What if you owe more on your house than it's worth? that is the eternal question nowadays right. Well some people are doing what is called a cash in refinance.
What Is A Cash In Refinance
A cash in refinance is simply where you refinance your loan and remember the old days where people took cash out of their homes at refinancing well a cash in refinance is simply the opposite of that. It's bringing cash to the table when you refinance. So not only are you refinancing but bringing say 10 or 20 thousand dollars to pay down some of your outstanding mortgage. What do you get out of that. Lower payments and a few months closer to a paid off house.