Is it time to Refinance Your Mortgage?

There are times when it makes sense to refinance your mortgage. It's important to have a clear financial objective in mind so that you're more able to choose the most appropriate loan. Ultimately, the decision is up to you to decide when it's best for you to refinance, based on your individual financial situation.

Refinancing from an Adjustable Rate Mortgage (ARM) to a Fixed-Rate:

It's important to consider what mortgage rates are doing. Since mid-2004, the Federal Reserve has raised interest rates several times and is expected to keep raising rates in the near future. This means that if you have an adjustable rate mortgage (ARM), it may adjust to a rate that's higher than a fixed-rate mortgage. Now might be a good time to consider refinancing to a fixed-rate loan.  However, you must also consider the amount of time you plan on being in your home. If you're only going to be in your home for a few more years, it may make sense not to refinance out of your ARM. If you're going to be in your home longer than seven years, it might be a smart move to refinance to a fixed-rate mortgage.

Figuring out what mortgage might be right for you can be confusing. Our refinance experts can help you find the perfect home loan for your situation. We'll walk you through the entire mortgage process and answer any questions you may have.


For a personalized mortgage quote for the home mortgage program of your choice, or simply to discuss your mortgage or refinancing options, call our friendly and helpful staff today at 1.888.999.2186