For me the 10/1 arm is about 4K cheaper up front and about $45

Apr 18, 2019
3:18:09pm

cougarfann888 All-American

Cheaper per month over the first 10 years(assuming I don’t move or refinance) obviously no way to predict what the math looks like after 10 years with the arm option

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cougarfann888

Bio page: cougarfann888
Joined: Oct 10, 2010
Last login: May 3, 2024
Total posts: 27,575 (83 FO)

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Messages

Author

Time

POLL: Which mortgage option would you choose?

cougarfann888

4/18/19 3:13pm

I would do the math, which I'm not going to do right now.

dYrtbYkerYder

4/18/19 3:16pm

For me the 10/1 arm is about 4K cheaper up front and about $45

cougarfann888

4/18/19 3:18pm

we're in the lowest interest rate period in US history

molodyets

4/18/19 3:20pm

People have been saying that for 7 years(myself included)

cougarfann888

4/18/19 3:21pm

Our economy is not stable and mature that we are on cruise control

molodyets

4/18/19 3:42pm

Oh I think the economy will bust at some point...

cougarfann888

4/18/19 3:46pm

Are you talking about a loan/real estate bust?

ReggaeCoug

4/18/19 3:54pm

They'll go up and home values will decrease as a result.

Pimpin4Paradise

4/18/19 3:23pm

In addition your mortgage balance, 10 years from now

Biyamiti

4/18/19 3:58pm

Yeah, I have always been hesitant of arms but a 10/1

cougarfann888

4/18/19 4:05pm

Exactly, 10 years is a long time

Biyamiti

4/18/19 4:24pm

yeah, I did the same math 4 years ago but with a 7/1 ARM

DrBYU

4/18/19 4:20pm

Do the 10/1 and then refinance to a 15 yr before the 10 years is up.

ReggaeCoug

4/18/19 3:52pm

This has kind of been my plan.. if I go that route

cougarfann888

4/18/19 3:56pm

Agreed. And there’s a very good chance you will either move

garyfan

4/18/19 4:08pm

I'd do a construction loan that "morphs" into a 15 yr fixed.

CougarThug

4/18/19 4:30pm

Do the 10 year and be fairly aggressive about the refinance

KSwiss

4/18/19 4:32pm

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