Honestly, I hear you on the gamble. I went HELOC last year thinking I’d be clever, but now those rate hikes are eating into my “monthly income” more than I’d like. Fixed refi stings upfront, but at least you know what you’re dealing with. Sometimes boring is better for the wallet.
Fixed refi stings upfront, but at least you know what you’re dealing with. Sometimes boring is better for the wallet.
Couldn’t agree more with this. I’ve seen a lot of folks get caught off guard by those variable rates—looked good on paper, but the reality’s a different story once the Fed starts moving. Fixed rates might not be flashy, but there’s something to be said for being able to sleep at night knowing your payment won’t jump next month. I get why people chase the lower initial rates, but sometimes “boring” really does win in the long run.
Fixed rates might not be flashy, but there’s something to be said for being able to sleep at night knowing your payment won’t jump next month.
- 100% agree—peace of mind is worth a lot.
- I went with a fixed cash-out refi a few years back. The upfront hit was rough, but it’s been steady ever since.
- Variable rates looked tempting, but I’ve seen neighbors get burned when rates shot up.
- Out of curiosity, has anyone here tried a HELOC for monthly income instead? I’ve always wondered if the flexibility is worth the risk, especially with rates moving around so much lately.
