Originally Posted by
sbm12
Be VERY careful with these programs. You'll almost certainly be paying a higher rate on the refi than you would without the miles. And you only get the miles once, while you are paying for them every month for the life of the mortgage, often at a very high cpm rate.
I've never done it for a 1st mortgage but I have done it for a HELOC. I respectfully must disagree that I paid extra for it. I got a great deal on my HELOC with very competitive up front fees and prime minus 0.75% rate.
I'll have to look into the fine print for the 1st Mortgage deal...