Go Back To Search Results Question My 5/1 arm will reset in 18 months, should I refinance home mortgage now, or wait for few more months? Current rate of ARM interest is 5.125%. Would it better to go for 6.75% mortgage refinance at no closing costs, if I am planning to live in the same house for next 7 to 10 years? By deedee Posted on 04/10/08 Total Answers 4 Answers- A much lower rate with cosing costs wrapped into the loan would save you thousands in the long run. Unfortunately, I cant predict what rates will do in the future but can tell you they are the lowest Ive seen them in a few years. I am employed by one of the largest mortgage brokers in the country. We work with over 350 lenders to bring you the best rates and programs. I welcome the opportunity to help. Please feel free to shoot me an email anytime with any questions you may have. Answer by : Probanker On Date 2008-04-10 12:18:22 DeeDee, what does your mortgage indicate? Is there a pre-payment or other penalty? Has your homes value decreased? Do you have equity in the home. If your home is in a declining area, your lender may require a 5 percent payment available from the equity of your home. (95 percent LTV) I would check all your paperwork and speak to your current mortgage company. None of us know what will happen to interest rates or home values in the next 18 months. Answer by : Gary Smith, Realtor® On Date 2008-04-10 17:14:14 Try using http://Refinance-Today.info to get refinance quotes from the top lenders. It only took me a few minutes. Answer by : Ohio State Hopeful On Date 2008-04-11 14:30:15 Hi, I used "Credit Solution" to settle my loans.They managed to reduce my loans up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here: http://urlhawk.com/58k Answer by : Jennifer On Date 2008-04-13 16:50:21   Go Back To Search Results