There’s more than one way to get from point A to point B. That goes for refinancing too. You want options, and sometimes the best one is to refinance to another ARM or go from your fixed rate to an adjustable rate in order to keep your payment close to what you’re currently paying.

An adjustable rate loan has the benefit of:

• A monthly payment that is lower for a short-term period—anywhere from three to ten years—than what you might get with a fixed rate loan.
• An interest rate that may be lower - in the short-term—than fixed rate loans
• Gives you the option to take advantage of today’s relatively low interest rates