Proactive Homeowner With Refinancing Advice

by Rachael
(Brighton, CO USA)

Ask Kate: Proactive Homeowner With Refinancing Advice Here's another homeowner success story with proactive refinancing advice. afterward, you'll find details on fixed rate mortgage programs. --Kate

Hi Kate, My husband and I purchased our home right before the housing market started to crash. We had originally signed a mortgage for an adjustable rate mortgage, with a very low introductory payment amount.

Within a month of closing, we knew if we wanted to keep our house, we would need to refinance for a 30 year fixed rate mortgage.

We contacted our bank, and they were very willing to consider the refinancing option. Our home had not lost any initial value from when we moved in, so re-writing and refinancing for a better rate was pretty easy.

While the payments are now much higher per month than the low introductory payment amounts were, we are locked in at a good interest rate for the next 30 years.

We need not worry about the housing crisis as much as others in our neighborhood. Rachael

Kate Answers: Proactive Homeowner With Refinancing Advice

Hi Rachael, Congratulations! So great to hear your success. Getting a fixed rate mortgage is sound refinancing advice.

So remember to bookmark Get Your Best Mortgage Rate to your favorites and visit it often for up-to-date homeowner tips, news and advice. You can also invite friends to comment on this page or contribute to one of their own.

Best Wishes,

Ask Kate how to get the best mortgage rates
Ask Kate

Riveting Fixed, Hybrid, and Adjustable Rate Mortgage Help

Comparing Fixed and Adjustable Rates - Refinancing? Buying a house? Get current rates right here.

Get the lowest payment with this best fixed rate mortgage plan yet pay it down quickly.

The 15 year fixed rate mortgage will save thousands plus you'll be mortgage free after 180 payments!

What would you do with an extra $87,789? Meet the 20 year fixed rate mortgage.

Introducing the 25 year fixed rate mortgage combining security with a lower interest rate.

I crown the 30 year fixed rate mortgage King Of Mortgages!

Meet the 40 Year Fixed Rate Mortgage when fast mortgage pay offs aren't your cup of tea.

Are adjustable mortgage rates good or bad? It depends on your circumstances.

Plan for changes to your adjustable rate mortgage.

If the cheapest fixed rate mortgages will save you money, why pay for more?

Are interest only mortgage loans hidden adjustable rates?

Ask Kate About ARMs - Get an answer about mortgages that adjust.

ARM Ask And Answer - Questions about adjustable rate mortgages, each with a individual answer from Kate.

Return from Proactive Homeowner With Refinancing Advice to Get Your Best Mortgage Rate

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