We research, you save.
Got Questions On Rates? (855) 610-2972

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.

No Comments

Leave a Comment
Mortgage Rates from 0.00%