Posted on: 07th Sep, 2010 03:31 pm
I have a house at 8% 250,000.00 and want to refi the house is worth 450,000.00 what should i pay and is a arm a good idea right now? My credit is 655
hi tammysmartt,
when you refinance the home, you'll be responsible for paying the closing costs. you can go for an arm in order to take advantage of initial low rates but later on when the rates will increase, your interest rates will also adjust accordingly and increase. it my opinion, as the rates are going low, it would be better if you could go for a fixed rate mortgage.
thanks
when you refinance the home, you'll be responsible for paying the closing costs. you can go for an arm in order to take advantage of initial low rates but later on when the rates will increase, your interest rates will also adjust accordingly and increase. it my opinion, as the rates are going low, it would be better if you could go for a fixed rate mortgage.
thanks