Refinancing is not a smart move for everyone. There are expenses and fees you will have to pay when refinancing your mortgage. These fees and expenses are very similar to the ones you paid when you took out your first mortgage. These expenses include a survey, appraisals, underwriting, and attorney fees. Many homeowners write off Adjustable Rate Mortgages because someone told them when interest rates go up their payments will skyrocket. This unwanted surprise in your mortgage payment amount is often called payment shock. Should you avoid mortgage refinancing with an Adjustable Rate Mortgage loan? Here are several tips to help you decide if the potential savings are worth the risk when refinancing with an Adjustable Rate Mortgage. By the time you complete mortgage refinancing with an Adjustable Rate Mortgage, your loan representative will have all but eliminated any possibility of this happening. Your loan representative will show you the payment schedule outlining the maximum you could every pay and when those changes could possibly happen. Adjustable Rate Mortgages have built-in safety features, and when structured properly unwanted surprises will almost never happen. Adjustable Rate Mortgages are ideal for short-term mortgage refinancing. If you will be keeping your home for less than seven years, you could save yourself thousands of dollars by choosing an Adjustable Rate Mortgage. You can learn more about your mortgage refinancing options, including costly mistakes to avoid with a free, six-part video tutorial. Mortgage Refinancing is something every homeowner experiences soon or later. Mortgage refinancing is simply trading your current mortgage in for a better one. The motivation for refinancing is to get a better interest rate, lower payments, better conditions, or cash equity out of your home. Here are several reasons a savvy homeowner would refinance their mortgage. Improve Your Interest Rate, Lower Your Monthly Payment, Refinance Your ARM to a Fixed Interest Rate, Shorten Your Term Length to Build Equity Faster, and Cash Out Equity.