Should You Refinance Into an ARM?

Should You Refinance Into an ARM?

As in many areas of life, people often prefer certainty when it comes to their mortgage payment. For this reason, the idea of going with an adjustable-rate mortgage (ARM) is often dismissed out of hand. However, there are certainly reasons to consider it, particularly if you’re refinancing to save money. We’ll discuss the pros and cons of an ARM refinance, but let’s start with the basics.

What To Consider When Using A Mortgage Refinance To Pay Off Debt

What To Consider When Using A Mortgage Refinance To Pay Off Debt

If you’re feeling overwhelmed by debt, you’re not alone. Many Americans are dealing with major credit card debt on top of mortgages, student loans, car loans, and medical bills. With some of the highest interest rates of any debt, credit card debt is one of the worst to carry. In fact, consumers pay double or even triple the interest rates on credit cards than they do on most auto loans, student loans, and home loans.