Converting the loan type from Adjustable Rate to Fixed Rate and vice versa - PowerPoint PPT Presentation

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Converting the loan type from Adjustable Rate to Fixed Rate and vice versa

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ARMs generally start off by offering lower rates as compared to fixed rate mortgages. But later on after periodic adjustments, the interest rate often gets increased more than the Fixed Rate. In such a scenario, a mortgage refinance company can help you in converting your ARM into Fixed Rate Mortgage loan. This results in lower interest rates along with eliminating the concerns for future hikes. Similarly, in a falling rate environment, converting your Fixed Rate interest mortgage into ARM is also a sound financial strategy. – PowerPoint PPT presentation

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Title: Converting the loan type from Adjustable Rate to Fixed Rate and vice versa


1
All Western Mortgage
  • Mortgage Refinance

2
Refinance your Mortgage
  • Refinancing your mortgage simply means paying off
    the existing mortgage loan and taking a new one
    in its place. Refinancing has its benefits and
    pitfalls depending upon a variety of factors. The
    major reasons and best times to refinance your
    mortgage are as follows

3
  1. If you can secure a lower interest rate
  2. Reducing the duration of the loan
  3. Converting the loan type from Adjustable Rate to
    Fixed Rate and vice versa

4
1) If you can secure a lower interest rate
  • The best time to refinance your loan is when
    youre getting a lower interest rate.
    Mathematically speaking, it is worth spending
    money on refinancing the loan if you could lower
    the interest rate by at least 2. A reduction of
    2 in the interest rate can bring down the
    monthly payments substantially and can help you
    save thousands of dollars.

5
2) Reducing the duration of the loan
  • When the interest rates fall, you can refinance
    an existing mortgage loan to shorten its duration
    without changing the amount of monthly payments.
    After all, repaying your loan in 15 years instead
    of 30, without changing the amount of monthly
    installments is a good deal.

6
3) Converting the loan type from Adjustable Rate
to Fixed Rate and vice versa
  • ARMs generally start off by offering lower rates
    as compared to fixed rate mortgages. But later on
    after periodic adjustments, the interest rate
    often gets increased more than the Fixed Rate. In
    such a scenario, a mortgage refinance company can
    help you in converting your ARM into Fixed Rate
    Mortgage loan. This results in lower interest
    rates along with eliminating the concerns for
    future hikes. Similarly, in a falling rate
    environment, converting your Fixed Rate interest
    mortgage into ARM is also a sound financial
    strategy.

7
Questions?
  • So, if you feel that any of the above mentioned
    conditions apply to your mortgage and it is a
    right time to refinance, allow All Western
    Mortgage to help you with it. Why pay more when
    you dont have to? Call us on 702-850-2790 or
    visit our website http//www.awmlending.com/ now
    to know more.

8
Contact Us All Western MortgageAddress8345
W Sunset Rd, Suite 380Las Vegas, NV  89113Phone
702-850-2790Corporate 702-369-0905Fax
702-906-0153 info_at_awmlending.comWebsite
http//www.awmlending.com/
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