ARMs adjusting soon

[Stanley Lo]

I have two mortgages that will adjust in March 2024 and one more in March of 2025.

I'm thinking of waiting until closer to the adjustment date to pull the trigger.

Option 1 - Full refinance cons-- expensive and high rates

Option 2 - HELOC -- perhaps inexpensive fees and higher floating rates

Option 3 - Do nothing and let the mortgage adjust.

House 709 -- First adjustment is only $200/mo more. Manageable. This house is currently listed for sale but I'm patient with the sale even if it takes a year to sell. (215K debt value 580K)

House 2421 -- First adjustment costs $700/mo more. Ouch. Plan to keep this longer terms as an Airbnb. (also 215K in debt value 480K)

House 15911 -- Currently a HELOC with a 2.75% rate that will unlock in 2025. (271K in debt value 480K)

I would like to minimize monthly payments if it makes sense with the fees.  Alternatively, I could cash-out refi and put the cash in a debt fund.  Just looking at options and what the current status looks like.