X

Have you checked out HSH's new Home Value Tracker? See what's happening with home values in more than 400 metro areas!

Have you checked out HSH's new Home Value Tracker? See what's happening with home values in more than 400 metro areas!

Can I refinance into an ARM instead of a fixed rate?

Q: Can I refinance into a 25 year variable-rate mortgage in New Jersey instead of a fixed rate / fixed term loan?

A: Absolutely. There are no restrictions when it comes to selecting an ARM versus a fixed rate. However, you must be aware that while rates are ARMs can be eye-poppingly attractive, they will change in the future -- and are likely to rise, perhaps substantially. Don't think that you'll automatically be able to refinance out of your ARM -- that's a mistake that many sub-prime borrowers made, leading to the present market mess.

Ask the expert
Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
Submitting your question...

Question received! Check back later to see if your
question gets published.

Q: What is the cost of getting a mortgage loan?
NOV 11, 2021
A:

 Costs and fees can vary depending upon lender policies and certain of the choices you make when you get your loan...

Read More
Q: What is the down payment required to get a mortgage these days?
NOV 03, 2021
A:

A: While some 100% financing may be available...

Read More
Q: Are reverse mortgage interest rates fixed or variable?
NOV 03, 2021
A:

If you are a homeowner age 62 or older and have equity in your home, you may be considering a reverse mortgage as a way to boost your retirement income.

Read More
Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen