You need to determine the interest rate plus points and closing costs. That way you can compare lender to lender. Choose the lender that offers the lowest total cost for the first 30 months of the loan. There are two types of points. Borrowed points are a profit paid to a lender.
Discount points is a fee paid in advance to lower the interest rate over the life of a loan.
Get two types of quotes. Request rates on no point with closing costs and a no points, no closing cost rate. Shop the marketplace and get quotes from several companies. You should still consider today's opportunities to refinance your loan although you may have to start from a higher base. Clark thinks that these debt consolidation plans are not only stupid, but dangerous.