If you already have a home you love, but are looking to refinance, we can meet your needs. We offer several refinance options, including a simple change in rate or term or a cash-out refinance that can provide you with funds to consolidate debt or make home improvements.
This traditional loan type have a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.
These increasingly popular ARMs can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans.