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