NNBC: Hot Deal-Home Refinacingl for Wells Fargo customers

I did my refinance by phone tonight for their on-line deal. Went from a
fixed 6.25 to 5.5% no cost refinance-absolute zero cost to me. It's called
a step 3 loan and you must be an existing customer. I was told if the rate
drops again after my loan closes, I can refinance again at no cost.


They are offering a 5.125% 30 year with a 1% origination fee plus the other
costs associated with the loan. I ran the numbers and after rolling in the
fees there was a minimal difference between the no fee 5.5 and the 5.125
rate. The only catch seems to be that your FICO needs to be high. I got
the info and ran the numbers and talked to another woman on the phone who
did not have access to my FICO- should have asked the first girl but forgot-
but it was her experience that the number had to be around 700 or better to
get this deal FWIW.

Hope this information is helpful to somebody.