Greystone Mortgage, LLC
Mindy Waite
6855 S. Havana St., Suite 150
Centennial, CO 80112
Phone: 720-331-6809
|
|
Refinancing Adjustable Rate Mortgages
What to do with those Adjustable Rate Mortgages (ARM)? Many people opted for the lower payments of having an ARM when they purchased or last refinanced their homes. This saved money while the rate was low; however, with rates having gone up, it’s now going to cost a whole lot more. It is time now to consider refinancing into a new loan.
ARM’s definitely have their benefits and are the perfect mortgage solution for many homeowners. What will make the difference for you is to work with a broker who understands that there is no such thing as a bad loan, just not fitting the right loan to someone’s needs. How do you assess your home mortgage needs? Here are a few things to consider:
• What type of loan do you currently have?
• Do you have a prepayment penalty?
• Is there a better loan program for you?
• How much longer do you plan to own your home?
• Will refinancing improve your finances short term and/or long term?
• Are the short term benefits important enough to refinance now?
Don’t wait for your fixed period on your ARM to end before you look into your options. Act now. Be proactive. Your home mortgage is most likely your biggest monthly expense and greatly impacts your finances. Explore your options with someone who has expertise in the mortgage business and will provide you with the knowledge you need to make the right choice for you.
To Learn more contact by phone, email, or visit my website. |
