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Refinance an ARM?
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   Types of Loan Programs-> Types of Loan Programs ~ General QuestionsMessage format
Posted 5/17/2006 1:04 PM (#1068)
Subject: Refinance an ARM?
We are in the fourth year of a 5/1 ARM at 5.375%. Would there be any point in refinancing at this time or is it just as well to take our chances in a year, paying the lowest rate out there for the remainder. We'd also like to start paying a couple hundred extra to pay down the loan more quickly. Is that affected by the type of loan we have?

Also, on amortization charts, how do I figure a 5/1 ARM? Is it still a 30 year loan?
Posted 5/25/2006 11:14 AM (#1090 - in reply to #1068)
Subject: RE: Refinance an ARM?
Do you have a pre-pay....if not I would get into a fixed rate. It is amorized(sp) over 30 years to answer the other question.
Posted 5/25/2006 11:15 AM (#1091 - in reply to #1068)
Subject: RE: Refinance an ARM?
how much is left on the the way.
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