Refinance your Adjustable Rate Mortgage (ARM) into a Fixed Rate Mortgage

Your current mortgage loan: Adjustable Rate Mortgage (ARM)

• Initial fixed rate period
• Lower initial interest rate
• Rate adjusts after initial period
• Payment adjusts after initial period
• May have interest only option

Your new mortgage loan: Fixed Rate Mortgage

• Interest rate never changes
• Payment never changes
• Loan is paid in full at the end of the term

Choose from different terms including:

• 40 year fixed rate mortgage
• 30 year fixed rate mortgage
• 15 year fixed rate mortgage
• 10 year fixed rate mortgage

(Additional fixed rate mortgage terms may be available from some lenders)

Adjustable Rate Mortgage vs. Fixed Rate Mortgage Refinance

An adjustable rate mortgage has recently become less desirable for many borrowers due to tightening guidelines from lenders and historically low interest rates. Fixed rate mortgages provide a steady and predictable mortgage payment and involve less risk than an adjustable rate mortgage. This has become one of the most popular refinance options over the last couple of years. An adjustable rate mortgage is still a good tool for individuals that do not plan to keep their home for many years, because an adjustable rate mortgage will generally have a lower interest rate than a fixed rate mortgage. Adjustable rate mortgages have been well under 5% in recent years. The lowest interest rate is available on shorter term adjustable rate mortgages (a 3/1 ARM will have a lower interest rate than a 7/1 ARM, generally speaking). A 3/1 ARM is a fixed interest rate for 3 years while a 7/1 ARM is a fixed interest rate for 7 years. If an ARM is not the right loan for you right now, we can offer you a 30 year fixed mortgage rate and the lowest fixed interest rate mortgage in the country. We look forward to assisting you with the lowest adjustable mortgage rates or a fixed rate mortgage for 30 years. FreeHomeRefi.com can assist you in determining what will work best for you during your refinance mortgage process.