Does it make sense to refinance an adjustable-rate mortgage into a. the more likely it is that refinancing into a fixed-rate loan makes sense.
Roll in refinance: You may have the option of rolling your closing costs into your new loan. This can be wise if you intend to move in a few years. Summary on Why Refinancing Out of an ARM into a fixed rate mortgage May Make Sense for You. We think that early 2018 could be a good time for many people to lock in a fixed rate from their ARM.
If you’re nearing the end of the fixed rate period of your ARM, now may be the time to refinance. Rates are low, so there’s no better time to lock in a good rate. Call us or complete the form above to get started.
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When interest rates are low, many homeowners reap the benefits of the adjustable rate mortgage. However, the situation may change because there is a potential for interest rates to grow and your monthly mortgage payment to increase. In this situation, refinancing ARM to a fixed mortgage rate can be a smart option.
WANT MORE STABILITY? There’s a lot of volatility in the world today, and mortgage rates have been fluctuating. If you’re tired of the changes of your adjustable rate mortgage, don’t wait to take advantage of a fixed rate refinancing.
You may also want to refinance if you have an adjustable rate mortgage and you’d prefer to switch to a fixed rate loan to lock in today’s rates. This is a good idea if you believe rates will rise in.
Refinancing your ARM into a fixed-rate loan can be a good fit for several reasons – especially if you expect that the economy will improve this year or next, and you plan to stay in your home.
This is part of an ongoing blog series that discusses commonly used mortgage strategies among home buyers and homeowners in Washington. Today, we’ll talk about how a homeowner in Washington State could benefit by refinancing from an adjustable-rate mortgage (ARM) into a fixed-rate home loan.