what is the best way to protect myself agains rising interest rate? I have adjustable rate mortgage.?
594418
Does your mortgage have a cap rate?  If it does, it will eventually stop going up.  If the cap is low enough, you don't need to worry, but otherwise, I'd agree with the previous answer...I refinanced my variable rate mortgage last year because I knew this was coming.  You really need a fixed rate mortgage in this environment.
910718
Did you mean to say "interest rate RISK"?  Well, the simplest way to manage interest rate risk is not to have it (i.e., borrow at a fixed, rather than floating, interest rate).  If you do have to borrow at a floating rate, you can hedge your risk with interest rate futures, forward rate agreements, or swaps...
742217
Talk to a mortgage advisor at any estate agents. They scan a computer with over 33,000 mortgages on it to find the best one for you. Northern Rock do a 100% they told me.\n\nGood luck, be sure you know what you're doing!
50372
I would go with a 15 or 30 year fixed for now.  Even with the rise in short-term rates, the long-term mortgage rates have remained fairly low. ARMs on the other hand have climbed.
82228
Cut up all your cards now!!!!  Find the card with the highest rate and pay that one off first then work your way through the Cards.  Try to get a 2nd mortgage at a lower rate.  Also you can transfer the cards to a different card that offers no interest for 3 monthes to a year.  when you get that card ....cut it up...and pay it off
477463
First decide how long you plan to keep the house.  Is it for 5 years or for 25 years ?  If you plan to keep the house for a long time the traditional 30 year mortgage is the way to go.  Many people keep their first houses less than 5 years when most of the payment is interest.  if that is the case a 5 year adjustable rate mortgage (arm) is best. But when taking out this type, do a worst case scenario i.e. if itcould increase 2% for example, run the numbers and make sure you can make the payment.\n\nNo matter which you choose, make sure your credit score or fico score is as high as it can be.  You should be able to get this on line.  If you have a high score --over 700- your rate will be lower than a low score 500 -- and you will pay much less in interest. If your score is not high, try to pay off your credit cards and after that charge a very small amount , $50 a month a pay it off in full each month.\n\nBuy an easy to read book on mortgages like Mortgages for Dummies and try to understand it well.  There are literally 100 or more mortgages to choose from and it is very complex.  The mortgage broker wants to sell you one and not necessarily educate you forthe one best for you. Buyer beware.\n\nIf you belong to a credit union, it will offer some very good rates.  Try that first. \n\nFinally shop around and check programs at various places and ask, ask , ask if you do not understand.  One time a mortgage broker tried to sell me a mortgage that appeared to be $500 less a month than any other.  I asked how that was possible and she said they $500 would just be added to my principal mortgage.  In other words at the end of a year my mortgage would be $6,000 more and after 5 years it would be $30,000 and of course my monthly interest payment would go up.  Notice she did not offer to explain this . \n\nGood luck and rememeber ask, ask ,ask  until you are sure you understand what you are getting
61482
An adjustable rate mortgage is just that--it will adjust monthly or so, depending on your loan agreement.  On a fixed rate mortgage, the interest rate stays the same and the principal and interest payment will be more consistant.\n\nThere are mortgages where you can get the loan fixed for two, three or five years and then it is an adjustable rate after that.  Most people will refinance again to keep the lower rate.\n\nThe benefits and pitfalls depend on your special situation. I always ask my clients for thier goals before deciding which product to put match them up with.\n\nIf you'd like to call and talk about your goals and which might be better for you, please feel free to call 877-659-5626.  I'll let Laura know about this and she'll be able to help you.
791588
Me and hubby bought a condo two years ago, and we didn't put 20% down. Instead we took the 0 down option to get in with an adjustable rate. Of course 20% down will definitely be to your advantage, as with putting any down payment on a home. After our adjustable rate skyrocketed, we did refinance and locked in a good percentage rate saving us some money. \n\nIf you can put 20% down, do it. Your home purchase is one of the biggest purchases you'll ever make, and the most beneficial to your future.
53320
If the appraised value of your home has risen and depending on the terms of your 80/20 you could possibly refi.  Go back to your Lender (if you were satisfied) and see what they can do to help you.  You will still have to pay closing cost again or you do in most cases.  And be sure you have paid all your payments on time.  Maybe this will help you.
217256
need more information to answer your question, I am a mortgage broker, just e-mail me with more specific information and I will try to help you with you question
860805
the interest would be the same if you got the same interest rate, because the loan would be the same just divided. besides you would probably have to pay closing fees again, also new loan fees.\nif you want to pay your loan off faster increase your payment, most of the first 5 years of payment goes to interest, by increasing you payment by $5.00 a month you would pay off much faster. by paying  half you payment twice a month it would also pay off faster.\nI just noticed that you have an adjustable rate mortgage, historically mortgage companies raise the rates as fast as they are allowed to according to the contract, a fixed rate at a half percent more would be much safer, and you need to check to see if there is a prepayment penalty, that is pretty standard.
503050
Define low mortgage.   Low payment or low rate?   Rates tend to fluctuate, but are trending higher.   \n\nMy advice is to find a reputable mortgage broker to talk to about a mortgage.   Figure out what you can afford and beware of low rates or low payments on adjustable mortgages.  When the mortgage rate gets adjusted, you could face a much higher payment.
579198
i would have to say no, rates are going to rise for some time, i would fix a good rate then when rates come down refinace at the lower rate and lock it in. only good time for an arm is when rates are really high so you catch the downward trend.
527462
If you can get a fixed rate, grab it.  Adjustable rate mortgages means the interest rate can go up as the prime rate goes up.  And with the way the Fed has been raising rates lately, the last thing you want is a 5% mortgage that suddenly becomes 9%.  Usually, adjustable rates loans are for people who do not qualify for fixed rate.  Make sure your credit is good before you apply.
610223
What I would do ? Search for some mortgage brokers web sites,  visit them, and contact those who looks the some agressive in their sales strategies. \n\nHope it helps,
71081
This can be really complicated to answer.  Basically, you need to go where the money is.  Certainly you've made your requests clear to your current investors?  Where are their friends?  Amazing how secretive/greedy people can be when it comes to sharing (good) investment advice.  Call every bank, real estate company, mortgage company, investment group, investment company and talk to the right people.  If the returns are as good as you say, you should be able to drum up enough investors.  On the flip side, maybe the people with "money" are concerned about the housing situation; is your area getting overbuilt?  Amazing too how many contractors get myopic.  Part of succeding in business is being able to "see" changing economies and adjusting as required.  This IS a cyclic business.  If the rates don't stabalize here, people will tend to stay put.  Don't get caught with unsold spec's that you're forced to start "discounting"  I don't know where you are, but in our hot, hot market, the wise old builders are being very careful and building mostly pre sold customs.
28549
Get your mortgage with a credit union, not a bank.\n\nGet a no point mortgage, and ask the credit union how you can minimize the closing costs.