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Can you get an ARM loan for a refinance?

Can you get an ARM loan for a refinance? I want to get a low interest rate and I know ARMs have lower rates, but I have never heard of anyone getting one for a refinance. by dawnharmone556 from Chicago, Illinois. Jan 27th 2011 Reply


Fernando Albarran (fernando)
#56 ranked lender in Arizona - 26 contributions

Absolutely. Adjustable rate mortgages are available on conventional and FHA refinances.An FHA ARM not only offers a low rates but also caps the adjustment to a 1% max in either direction. So for example a beginning rate of 3.25% on its' 7th year will max out at 5.25% (worst case).If you would like more details on ARMs or other refinance options, email me at info@wjbonline.com

Jan 27th 2011
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Rich Constantine (rconstantine)
#396 ranked lender in California - 79 contributions

Yes you can get an ARM. Are you looking for cashout or just a rate & term refi? It all depends on your situation. I lend in all 50 States. I offer low rates and low closing costs. Hope this helps. RC

Feb 6th 2011
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Shelley Dodd (shelldodd)
#292 ranked lender in California - 8 contributions

Sure you can ~ the underwriters just want to make sure the borrower is benefiting their situation. If you would like me to work up some numbers for you I would be mre than happy too. email - shelldodd@sacmtg.net Have a great day!

Jan 27th 2011
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Dan Paladin (dpaladin)
#1 ranked lender in California - 587 contributions

As mentioned here..yes...there are just tighter LTV guidelines to meet and also as mentioned we have to demonstrate a net tangible benefit to you the borrower. For a no obligation consultation feel free to contact me. Regards and hope this was helpful.

Jan 27th 2011
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