You’ve felt it coming for quite some time now. You’re at the point where you’re not quite sure why you chose an adjustable rate mortgage in the first place, though at the time, you thought it was a good idea.
Maybe you chose it because the market was going so well and you noticed that people were locked intomortgage rates from a decade before. They were scrambling to refinance. With that ARM, you thought for some strange reason that you would never have to scramble to refinance, yet here you are thinking, “Would a fixed rate loan have been better?” Your rates aren’t sky high, but they’ve been steadily increasing for quite some time and your area is becoming one of the “up and coming,” regions inAscension LA.
You really can’t afford to start spending more than $50 more every month on your mortgage and you really don’t even want to do that. Now is the time to consult some mortgage lenders, though you’re not sure if you want to apply for a completely fixed rate mortgage refinance or whether you want something a little different. You’re still a little scared of a completely fixed rate mortgage. It just sounds too limiting, so you need some help making your decision.
Turn to BBB Accredited Sun Mortgage Funding when You Need to Adjust Your ARM
Adjustable rate mortgages can seem like the perfect choice at first, but you might have even had a nagging feeling going into your loan that said, “What if these rates go up?” Sometimes the caps on your ARM don’t even go into effect for the first year, so if the market goes up during that time, you can wind up paying double the interest rate you came in with. However, there are ARM rates with better terms and if getting into a fixed rate mortgage is just too scary for you, you can discuss your Louisiana mortgage options with your loan agent.
Visit SunMortgageFunding.Com and you will find a friendly team of associates that are ready to help you make the decision that’s right for you. Unfortunately, ARMs can be confusing for consumers because the terms are always changing and some consumers don’t quite understand the loan product that they have. At Sun Mortgage, whether you choose an ARM or a fixed rate mortgage, they strive to make sure you understand the loan product you have chosen and provide you with the best loan for your long term financial needs. Call Sun Trust Mortgage today at 1-800-370-2292 to schedule a free consultation!