Comments on: Should You Refinance Your Adjustable Rate Mortgage to a Fixed Rate Mortgage? http://www.moneycrashers.com/should-you-refinance-your-adjustable-rate-mortgage-to-a-fixed-rate-mortgage/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 21:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jasonhttp://www.moneycrashers.com/should-you-refinance-your-adjustable-rate-mortgage-to-a-fixed-rate-mortgage/#comment-15724 Jason Sat, 16 Oct 2010 12:12:01 +0000 http://www.moneycrashers.com/should-you-refinance-your-adjustable-rate-mortgage-to-a-fixed-rate-mortgage/#comment-15724 I have a 10 yr ARM that expires in 2015 (rate is 5.5%) on a townhome that I am currently renting out. I was considering refinancing to 30 yr fixed & lock in the low rate (4-4.5%), but my mortgage company is saying that I need 75% LTV, which means I would have to put down 35-40K (waiving closing costs), depending upon appraisal of the property, in order to refinance. Thoughts, advice? I have a 10 yr ARM that expires in 2015 (rate is 5.5%) on a townhome that I am currently renting out. I was considering refinancing to 30 yr fixed & lock in the low rate (4-4.5%), but my mortgage company is saying that I need 75% LTV, which means I would have to put down 35-40K (waiving closing costs), depending upon appraisal of the property, in order to refinance. Thoughts, advice?

]]> By: authorhttp://www.moneycrashers.com/should-you-refinance-your-adjustable-rate-mortgage-to-a-fixed-rate-mortgage/#comment-5399 author Wed, 12 Dec 2007 23:53:29 +0000 http://www.moneycrashers.com/should-you-refinance-your-adjustable-rate-mortgage-to-a-fixed-rate-mortgage/#comment-5399 If you plan on paying off your mortgage within 7 years, it's probably not a bad idea to play with the interest rate and refnancing as long as you can find a company that won't rape you in fees. If you plan on paying off your mortgage within 7 years, it’s probably not a bad idea to play with the interest rate and refnancing as long as you can find a company that won’t rape you in fees.

]]> By: Blaine Moorehttp://www.moneycrashers.com/should-you-refinance-your-adjustable-rate-mortgage-to-a-fixed-rate-mortgage/#comment-5398 Blaine Moore Wed, 12 Dec 2007 21:50:06 +0000 http://www.moneycrashers.com/should-you-refinance-your-adjustable-rate-mortgage-to-a-fixed-rate-mortgage/#comment-5398 A few months ago, I actually considered refinancing my fixed rate loan into an ARM for the savings! Since I plan on paying off my mortgage quickly, I'd be able to get a good jump start for 5 years or so. Once I crunched the numbers, though, I wouldn't have saved enough money to justify the risk. I'll revisit the numbers again next year to see if there is something better around the corner. A few months ago, I actually considered refinancing my fixed rate loan into an ARM for the savings! Since I plan on paying off my mortgage quickly, I’d be able to get a good jump start for 5 years or so.

Once I crunched the numbers, though, I wouldn’t have saved enough money to justify the risk. I’ll revisit the numbers again next year to see if there is something better around the corner.

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