Things to keep in mind when Mortgage Refinancing your home There are a few things to keep in mind when you decide to go for a mortgage refinancing loan. In mortgage refinancing, the first thing you need to do is ask yourself this question: "Does my property have enough equity for mortgage refinancing? Even with a fixed rate mortgage, interest-only mortgages are still bound to be only temporary. And InterstFirst product only lets interest-only mortgage payments for half of the total term. The expiration schedule of an interest-only mortgage payment is usually at the end of a set period. This makes interest-only mortgages compatible to "amalgam" adjustable rate mortgages. Thus consumers will be able to get loans for decreased mortgage interest rates. Mortgage interest rates are based on a financial instrument called index. LIBOR (London Interbank Offered Rate) is among the most common indices that mortgage interest rates are based on. Other mortgage interest rate indices are 1-Year Treasury Security, Prime, 6-Month CD, and the 11th District Cost of Funds (COFI). First, to get accurate information for your mortgage rate comparisons, see that any investment firm you are dealing is authorized. Second, do make sure that you know what you are looking for. Mortgage rate comparisons are a serious activity to be undertaken and should not be taken lightly. Mortgage rate comparisons will help you make your informed decision on loans. With an adjustable-rate mortgage payment, the chance of interest rates going higher is equal to its chance of going lower. Now here in also lies the risk of having an adjustable mortgage payment. When it comes to having an adjustable mortgage payment, there are no guarantees. It is either the interest rates will lower down or it will rise up. Whether or not you want your cash from a reverse mortgage be paid to you in lump or in installment, the main thing is that you do not have to pay anything back until you die, sell your home, or permanently move. Reverse mortgages usually cater to homeowners who are 62 years old and older. Reverse Mortgage vs.