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Keep Your Payment From Rising

Like many homebuyers, you may have chosen an adjustable rate mortgage when you first bought your home to take advantage of low monthly payments and interest rates.

However, as the fixed part of your loan comes to an end, you may find that your payments will be rising due to increased interest rates. No one enjoys paying more, but how do you keep your payment from rising? Consider refinancing your home loan to a fixed rate mortgage, or one with a longer term.

How To Stabilize Your Mortgage Payments

If you’re looking to prevent your mortgage payment from rising, you have two options: either refinance to a fixed rate mortgage or refinance to another adjustable-rate mortgage.

How do you know which option is right for you? It depends on how long you’re planning on staying in your home.

If you’re planning on staying in your home for an extended amount of time, refinancing to a fixed rate mortgage is a great way to keep your payment from rising, giving you stability for the rest of your loan’s life.

However, if you’re only going to be staying in your home for a short period of time, refinancing to another ARM may be a financially-savvy decision. This way, you can still stop your current mortgage payments from rising, while being able to take advantage of an even lower interest rate for your new home loan.

Call us at (941) 405-1412 to talk to one of our Home Loan Experts, or find one near you in one of our more than 170 offices nationwide, to review all your options for keeping your mortgage payments down.

Ready to start now? Visit our online application and you can get your refinance going in less than half an hour!

You can also call us at (941) 405-1412 to talk to one of our Home Loan Experts, or find one near you in one of our more than 170 offices around the country, to review all your options for keeping your mortgage payments down.

Why Guaranteed Rate for your Mortgage Refinancing?

Guaranteed Rate offers low rates and unbeatable customer service, so you know you’ll be locking in the low rate you want and receiving the best care when refinancing with us!

Our home loan experts have been recognized by Scotsman Guide, Mortgage Executive Magazine and Crain’s Business as the best in the business!

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All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

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