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Home Buying & Renting
Understanding home refinance
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What's an ARM mortgage?

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You'd have a variable rate with an ARM-the "A" stands for adjustable.

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Where's one place you can find current mortgage interest rates?

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Find current mortgage interest rates online or in the newspaper.

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Key Takeaways

Print version

Before you decide to refinance your home, make sure you know all the variables up front and what you need to consider along the way.

  • Refinancing could lower your monthly payment or your interest rate, or even change the length of the mortgage
  • Remember to weigh all aspects of home refinancing—your current mortgage could be the best option
  • Remember to calculate extra fees, like closing costs, that could impact the amount you might save
  • Calculate how long it will take any monthly savings from a refinance to equal your refinance closing costs