Is your mortgage rate Fixed? Or Adjustable? Are you happy with what you picked? Would you choose differently next time?

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I would NEVER get an adjustable rate again!! We had one at first on the first home we bought. We were totally ignorant on how mortgages worked. We refinanced to fixed rate as soon as we could.

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~Happiness is a large family~

Ours is fixed at 5.75% I think.

We have a fixed rate (4.75%). I would never take out an adjustable rate anything. It leaves you at the mercy of the credit companies.

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The mighty oak started out as a nut that held its ground.

We locked into a fixed rate back in Feb of '07. Before that we had and ARM. We refied 2 years before it would become due, and thank GOD we did. Right after we refied, the housing bubble and credit crunch started to pop and bang.
Because my hubby has a bankrupcy on his record(business related from b4 we were married), we could only get a mortgage with and ARM to begin with. And now if we were to refi today with the scenerio we had in Feb of '07, it would be very difficult to get into a fixed mortgage.

Thank God for small miracles!

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Jenifer M

fixed rate i would never do an adjustable. look at all the forsclosers.

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'The will of God will never take you where the
Grace of God will not protect you.'

I took a real estate class a couple of years ago and while I never did sell real estate I did learn a few things about buying a house that really made the class pay for itself and that included not doing an adjustable mortgage rate. Had I not done that than truthfully I wouldn't have known any better though with our loan we were never even offered the AMR so maybe it wouldn't have been an issue.

Fixed all the way. I don't like to Gamble.

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Kimberly Proud Mommy to Bethany Rose April 2006

It's fixed and I think around 3%.

Fixed. I would NEVER, NEVER get an ARM.

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