Frequently Asked Questions

1. Frequently Asked Questions About Refinancing

How do I know when to refinance?

First, it is always good to be thinking about fixed rate mortgages when you are in an adjustable rate mortgage (ARM). Just as there are great times to refinance, there are also times where you should not. Common questions to ask yourself before you refinance are: How much equity do you have in your home? How long do you plan on remaining in your home? Are you willing to pay in order to get a lower rate?

When should I “lock in” on an interest rate?

No one can ever predict what interest rates will do, but what has been proven over time is that rates will go up faster than they will go down. If you are planning on refinancing your mortgage, it may be best to lock in now since it will always be possible to refinance later if rates drop again.