Should I refinance my arm in a fixed rate loan, even if it means a higher rate / payment?
I have one advantage that I currently pay ARM 3.875%, and indexes in August 2010.Am 8 / 2010, I need to payments of principal and interest of 1 year LIBOR + 2.25% on time zahlen.Zum current LIBOR is at 1, 5%, 3.75% would be – a really good price. Of course, steigen.Der LIBOR interest rate is 8.875%, which would be high, but even at this pace continues, I still make my payment is limited. I’m not in danger of foreclosure, if I lose my job for a longer period. I think insurance is not mandatory from a fixed loan Zinssatz.Es Freddie Mac line provided by about 80% LTV, so I can get streamlined refinancing with about 5-6% with Cost down here will schließen.Ich his life for a very long time (probably 15 + years). So I can my mortgage, at least in the short term, a lower rate than refinancing a fixed rate mortgage refinancing if I, I will have a higher rate and payment, but payment will be mounted are never guaranteed.