I am 9 years into a 5/1 ARM, currently 3.625% but likely to jump to 4.625% next April. Loan balance 170K, property value 260K. I am 48 years old if that's relevant. I assume I can afford the higher payment.
I see that my credit unions have 10 year fixed products with really low interest rates, I am seeing 3.5% and 3.75%.
Feels like a no-brainer to me, but are there other things I should be considering?
Also, any tips on shopping for such a product, beyond what I have already done? I see that SOFI does not have 10 year mortgages. I made the mistake of putting my info into LendingTree and my phone and email has been blowing up all morning.
Thank you!