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2. What is a 10/1 adjustable-rate mortgage (ARM)? - AOL

   www.aol.com/finance/10-1-adjustable-rate...

   A 5/1 ARM works in much the same way as a 10/1 ARM, but the initial, fixed-rate period is shorter – just five years. Generally, the interest rate on the 10/1 will be a little higher than the 5/1.

3. Refinancing your ARM into a fixed-rate mortgage - AOL

   www.aol.com/finance/refinancing-arm-fixed-rate...

   ARMs are more complex than fixed-rate mortgages.Fixed-rate mortgages keep the same mortgage rate throughout the loan term (usually 15 or 30 years). In contrast, an ARM is a 30-year loan with a ...

4. Adjustable-rate mortgage - Wikipedia

   en.wikipedia.org/wiki/Adjustable-rate_mortgage

   Adjustable-rate mortgage. A variable-rate mortgage, adjustable-rate mortgage ( ARM ), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. [ 1] The loan may be offered at the lender's standard variable rate ...

5. FHA streamline refinance: What is it and how does it work? - AOL

   www.aol.com/finance/fha-streamline-refinance...

   1. You must refinance an FHA loan. This is the primary rule. In order to take advantage of the FHA streamline program, you must already have an FHA-insured mortgage. 2. You must receive a ‘net ...

6. Home Affordable Refinance Program - Wikipedia

   en.wikipedia.org/wiki/Home_Affordable_Refinance...

   The Home Affordable Refinance Program (HARP) was created by the Federal Housing Finance Agency in March 2009 to allow those with a loan-to-value ratio exceeding 80% to refinance without also paying for mortgage insurance. Originally, only those with an LTV of 105% could qualify. Later that same year, the program was expanded to include those ...

7. Refinance appraisal: How it works and what to expect - AOL

   www.aol.com/finance/refinance-appraisal-works...

   The VA-backed streamline refinance is known as an Interest Rate Reduction Refinance Loan (IRRRL). The IRRRL typically offers a lower interest rate and can provide reduced monthly payments.

8. Cash-out refinance: What it is and how it works - AOL

   www.aol.com/finance/cash-refinance-works...

   Determining whether you qualify: Many cash-out refinance lenders require a credit score of at least 620 and at least 20 percent equity in your home.You might find lenders with looser requirements ...

9. No-closing-cost refinance: What it is and how it works - AOL

   www.aol.com/finance/no-closing-cost-refinance...

   Key takeaways. A no-closing-cost refinance gets rid of the need to pay refinancing fees upfront, but it’s not free. Instead, you’ll finance the closing costs — with interest — as part of ...