Refinancing may allow you to cut your monthly mortgage payment, pay off your loan faster, or get cash out for that long-awaited project. A cash-out refinance can be done with either a fixed-rate or adjustable-rate mortgage. We’ll inform you about fixed-rate and adjustable-rate mortgages so you can choose the one that best suits your needs.
Switching from an adjustable-rate mortgage (or ARM) to a fixed-rate mortgage is one of the most prevalent reasons for refinancing. When interest rates are low, the usual rule is that refinancing to a fixed-rate loan makes the most sense.