Reduce Risk

Adjustable Rate Mortgages (ARMs) are popular loans that provide lower interests and lower monthly payments compared to fixed rate loans.  However, ARMs involve more risk since the interest rate typically rises each year, and you can not predict with certainty what your monthly payment will be.

In order to reduce this risk, you can refinance your ARM loan to a fixed rate loan.  You may pay a higher interest rate, and your monthly payment may increase, however, you will reduce your risk.

Compare the two types of loans using our ARM vs Fixed Rate Mortgage calculator.