We understand the desire for financial stability and predictability. Our fixed-rate refinance loans offer just that by eliminating the uncertainty of adjustable-rate mortgages (ARMs). With a fixed-rate loan, you can count on your interest rate and monthly payments to remain consistent throughout the life of your loan. This stability is perfect for homeowners who plan to stay in their homes long-term or who prefer the peace of mind that comes with knowing their rate won't fluctuate.

A fixed-rate refinance loan has several advantages. It provides predictability, so you know exactly how much interest you’ll pay over the course of the loan. This can help you budget and plan for the future with confidence. Additionally, with a fixed-rate loan, your monthly payments remain unchanged, which contributes to greater financial stability. Refinancing to a lower fixed rate can also reduce your overall interest payments and potentially shorten your loan term, leading to significant long-term savings.

However, it’s important to consider the potential drawbacks. Fixed-rate loans generally start with higher rates compared to the initial rates of ARMs. If market rates fall below your current fixed rate, you won’t benefit from the lower rates unless you refinance again. Additionally, high closing costs associated with refinancing can impact your potential savings. If you choose a shorter loan term, your monthly payments might increase due to the reduced repayment period.

To find out if a fixed-rate refinance loan is the right choice for you, speak with our loan officer. We’re dedicated to helping you navigate your refinancing options and find the solution that best fits your financial situation.