Fixed Rate Mortgage Refinancing
Fixed rate mortgages are ideal for long term homeowners. The interest rate and monthly payment is fixed for the life of the
loan. This loan carries minimal risk; the majority of the payments during the beginning of the loan are interest heavy
while the last payment of the loan is interest free and pays off the principal in full.
A loan with a fixed interest rate costs a little more for the security, but the resulting peace of mind is worth it. Interest rates on mortgage loans are on the rise and analysts coast to coast predict trend will continue. This is a great opportunity for you to fix the interest rate on your ARM loan if you plan on keeping your home for a long period of time. If you consolidated your debt in your last refinance, there is an excellent chance that your credit score has improved dramatically which entitles you to a better interest rate that you can lock in for a longer period of time. If you have any questions or needs, please fill out our inquiry box and we will have a mortgage and real estate professional contact you promptly.