GETTING A FIXED RATE
You may be able to save a great deal of money if you refinance an
ARM (adjustable rate mortgage) into a fixed rate mortgage.
Refinance an adjustable rate mortgage into a fixed rate loan
If you are considering refinancing an ARM into a fixed rate loan,
there are two main variables that need to be taken into
consideration: interest rates and how long you plan on living in your
1. Watching Interest Rates - This past year
the Federal reserve increased interest rates a number of times. It is
anticipated that the Federal Reserve is going to continue raising
interest rates over the next few years. If you have an adjustable
rate mortgage there is a very good chance that your ARM will adjust
to a rate that is higher than a fixed-rate loan. Therefore, if you
ARM, you may want to consider refinancing.
2. How Long You Plan on Residing
In Your Home - If you have an adjustable
rate mortgage that is based on an initial fixed period of
3 or 5 years, and you plan on staying in your home for
longer than the initial fixed rate period, you may want
to consider refinancing to a
fixed rate before this
initial period expires. Once the initial period expires,
your interest rates are going to increase.
Select Star Loan Services for Refinancing Adjustable Rate Loans
Our loan team assists individuals of all good and bad credit
refinance adjustable rate mortgages into fixed rate loans. We
work with each applicant on an individual basis, formulating a plan
that makes sense, saving the applicant money!
Start Saving Today!
REFINANCE AN ARM INTO A FIXED RATE MORTGAGE
Home Mortgage Refinancing Guide