If you can get 3.75 - 4% FIXED then get it. That's low.
If you're really trying to pinch pennies, a co-worker of mine actually went between 2 or 3 local banks, got loan info in writing (from bank 1) and showed it (to bank 2) and asked what they could do for a better deal. Then repeated the process of bank #2 against bank #1. Repeat a few times. She got an extra full percent off for the work. (Below their 'best' offer)
Good luck.
If you're really trying to pinch pennies, a co-worker of mine actually went between 2 or 3 local banks, got loan info in writing (from bank 1) and showed it (to bank 2) and asked what they could do for a better deal. Then repeated the process of bank #2 against bank #1. Repeat a few times. She got an extra full percent off for the work. (Below their 'best' offer)
Good luck.