Is this refinance loan for real? I have seen a lot of it on the Internet and got a mailing.

I am presently at 5.5%/30 yr. fixed with Wells Fargo and it is a VA loan I used. It is a great interest rate.

I have been seeing 4.5% VA Streamline Refinance loans but not sure if that is 15yr or 30yr fixed.

Is this real or make sense that if it is real, to refinance 1 point lower to save on my mortage payments. My appraisal is down by $8900 because of home values that dropped.

As of right now, I am looking to shave off anything, even if it is $100 a month.

Thanks.

This message has been edited. Last edited by: MortgageGuru,

It's a marketing gimick. You can get 4.5% but the points required to get that low don't make it worth it for most everyone.