HLS, I mentioned Countrywide because they hold my current mortgage. The paperwork should be quick and easy as they know my outstanding balance, my payment history and have my credit report. I went up on their website last night as saw they had 5/1 and 10/1 ARMS for less than 5% for a refi.
I am leaning towards the 10/1 even though it is a half-point higher. It will give me a cushion if I have financial difficulties in the future. I do plan to pay off the mortgage in the next 5 years but it will be nice to know that I’ll have more time if I need it.
