I have an ARM, should I refinance now?

If you have 2 loans, and consolidate them into one loan, fixed, it may benefit you versus when your second mortgage starts to adjust. Give me a call or send me an email, I would be happy to help you determine what works best for you.

It depends on several factors.. what's your loan balance on the first and 2nd? What is your property worth? What's the rate on the first mortgage? etc.. without knowing all the details, it's hard to advise, but in general. your ARM rate is not much lower that fixed rates are today.. with the promise of higher rates in the future, now would be a good time to lock in a fixed rate and refinance both loans into one.. But I wouldn't call Wells Fargo.. your far better off contacting a local mortgage broker. he has access to numerous lenders and can shop for the best rate possible.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

If the second loan is large enough that it could increase your payment significantly once rates slowly increase over the next year, you might consider consolidating it with your first as no one expects rates to be lower the end of the year or beyond, though it never predictable for certain.On looking to Wells Fargo to do it for you, I am going to be a bit biased. Many of us who answer questions on this site and are experienced, knowledgeable, hard workingmortgage consultants once worked at a large bank. We know we have to do a little better in rate pricing much of time, if we are going to attract a significant number of potential borrowers to give us the opportunity to plan a possible mortgage loan. We realize you are under no obligation with anyone and need to take time to make your choice, but you can get good expertise in choosing someone answering questions on this website, and save $$ should you decide to refinance! We are direct lenders thatonly provide loans in California.