Should I Refinance now or not ?

Only you can answer that question... rates are the lowest they have ever been, so if you plan on staying in your home, you should convert it to a fixed rate mortgage... the temptation is that your payment will probably be going up to do this.. But it's better to deal with it now then later when you have no choice... dealing with the right lender is crucial in your scenario.. You want to be sure to look at all your options, and make an informed decision.. so The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

it depends on what your rate is right now ..

Hello, Now is a great tome to get out of a ARM/Hybrid Loan Rates are at record lows and to lock in on a fixed rate would be perfect. Just give our office a call and we'd be delighted to assist youSincerely,Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach"Educating you to make the right financial choices for your family today and tomorrow" Direct/Text: (936) 228-1944

Now is a great time to refinance.

It is always a good time to refinance so long as the net tangible benefit out weighs the cost of the refinance.

Short term, your current rate is probably lower than what you could get for a fixed rate loan, but if you wait until your current rate starts climbing, then it will be too late to get these low rates on a fixed term. If you plan to be in this home long term, my advice would be to bite the bullet and take advantage of these phenomenal rates while you can. We don't know what tomorrow brings, and while waiting, something could happen that makes you regret your decision to wait. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950