Third Federal Savings & Loan

[David Stott]

Greetings - putting this out to the forum to drum up any experiences. I received a piece of marketing from Third Federal Savings & Loan (www.thirdfederal.com), offering to refi our primary residence to a 10 yr fixed at 3.29%/3.39%apr with closing costs at "only $595".

Given I'm currently paying 4.375%, on the surface, it looks like I could shave 6-8 months of my current note with a slightly lower payment (~$20 less), it would seem worth it to do this for the $595 expense. When I spoke to them, I ran down the list from a recent quote I had and they said all of those expenses were included.

So, what do you think I'm missing. When something sounds too good to be true, it usually is. Anyone out there have experience with TFS&L, or does anyone know of a better refi product right now . . . I'm always looking to position myself a bit better, and knocking 6-8 payments off is appealing.

Thanks!