Different Types of Refinancing Mortgage

This is one of the key factors to be considered by a homeowner when deciding to refinance their home either by fixed rate mortgage (FIR) refinancing, by an adjustable rate mortgage (ARM) refinance or by hybrid loan. Hybrid loan is nothing but a combination of fixed and ARM option. The names of these options are self-explanatory, however fixed mortgage means that mortgage interest rate always remains constant and ARM means that mortgage interest rate is always variable.