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Apr 18, 2019
3:18
:09
pm
cougarfann888
All-American
For me the 10/1 arm is about 4K cheaper up front and about $45
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
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cougarfann888
Joined
Oct 10, 2010
Last login
May 4, 2024
Total posts
27,578 (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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