Home Loan Refinance Article Library

Making the switch from an Adjustable Rate Mortgage (ARM) to a Fixed Rate Mortgage can offer homeowners peace of mind. While ARMs can be appealing due to their initially lower rates, the uncertainty of future rate hikes can be stressful. Transitioning to a fixed-rate mortgage locks in a constant interest rate for the remainder of the loan, ensuring predictable monthly payments regardless of market fluctuations.

The move to a fixed-rate mortgage is especially worth considering if you plan to stay in your home for many years to come. Securing a fixed rate now, particularly in an environment where rates could potentially rise, can protect you from increases in your monthly payment.

Remember, when it comes to converting to a fixed-rate mortgage, it’s important to weigh the costs of refinancing against the long-term benefits of making the move.

At NIHFCU, our home loan specialists can help you navigate this decision. Whether you’re making the switch from an ARM to a fixed rate or simply exploring your mortgage options, we’re here to provide the guidance you need.