Hopes of Refinancing

So we are in the application process with B of A and a Title company here in Issaquah to refi our condo. There is a new FHA rate reduction program out there that we qualify for! It looks like we may be saving over $300/month! I'm just praying that this isn't too good to be true and that all of the application process and the closing process goes well! Our contact at B of A said that if when we get to the closing table and we don't like what is in front of us that we can back out. He said we have his word on the costs and the monthly savings. So just keep us in your prayers as we complete this process because it is very much needed!