How lond did you have an ARM? Curious why you ended up with one? Better deal?

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Sep 27, 2022
11:35:15pm

shamc Truly Addicted User

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shamc

Bio page: shamc
Joined: Jun 28, 2019
Last login: Apr 27, 2023
Total posts: 1,492 (4 FO)

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Messages

Author

Time

Last December my bank offered me a promo on my Home Equity. Use the advance checks and get 1.49% for 12 months.

Pimpin4Paradise Truly Addicted User

9/27/22 8:40pm

I don't understand how that's a good deal

rcbyufan

9/27/22 8:45pm

Financing at 1.49%?

Pimpin4Paradise

9/27/22 8:45pm

But it doesn't stay at that rate, correct?

rcbyufan

9/27/22 8:50pm

Nobody foresaw rates going up 6% in one year.

RH84025

9/27/22 8:53pm

<< Deleted >>

chilawcoug

9/27/22 9:43pm

No, but that’s cheap money for 1 year. I’ll be paying it down rapidly, but still pretty shocking.

Pimpin4Paradise

9/28/22 9:51am

I was on an adjustable rate, got really nervous in January and ended up refinanc

TO11

9/27/22 9:03pm

Very good call.

BoiseBlueCoug

9/27/22 9:47pm

How lond did you have an ARM? Curious why you ended up with one? Better deal?

shamc

9/27/22 11:35pm

It was a 7 year ARM, our original rate was like 4.75%, we refinanced down to

TO11

9/28/22 8:59am

The nice part is if you have any extra money you know where to put it.

johnnybyu

9/27/22 10:16pm

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