<prompt> Human: Closed on a mortgage in April. Now in late August our lender contacted us offering to refinance to 25bp lower.Notes:- Lender is a credit union- Lender says there will be no cost other than funding the new escrow no closing costs- Lender says we wont be required to sign any documents that we didnt sign least time i.e. they arent trying to get us to sign some new form for whatever reason- Lender says there is no catch, and that he watches for his clients to be in a position where they can refinance at a lower rate without paying closing costs.Does anyone see a downside to this? Is there any catch?  <response>: So 0.25 lower APR and absolutely 0 closing costs? Look very very very closely at all the paperwork, even credit unions can try to hide the real costs within the fine print. 