Is it smarter now to refinance my mortgage with a variable rate mortgage or with a fixed rate since the rates are rising?
It all depends on how long you plan on keeping your house. If you are planning on staying 7 years or longer I would go with a fixed rate. You can get a 5/1 or 7/1 ARM which is fixed for 5 years or 7 years before it adjusts which could result in substantial interest savings compared to a fixed rate if your scenario...

My fico score is 602
You may very well be able to qualify for either a FHA loan with 3.5% down or a USDA loan with no money down.if the home you buy is in an eligible area. If you would like to discuss these options give me a call at 518-579-3412 or email me at mpawlows@freedomonefunding.com.