Fixed vs ARM Mortgage: How Do They Compare? | NerdWallet

แชร์
ฝัง
  • เผยแพร่เมื่อ 26 ม.ค. 2025

ความคิดเห็น • 20

  • @D.R.E.Y.Z
    @D.R.E.Y.Z ปีที่แล้ว +4

    My question is - can I get an ARM, benefit from the introductory period by paying less interest. Then refinance to a Fixed rate just before the introductory period ends. This way, I’ve benefited from the low introductory rate for the first 3-5 years. Is there a penalty if you change from an ARM to a Fixed rate before the introductory period ends?

    • @prajwal1402
      @prajwal1402 ปีที่แล้ว +1

      you can but as she mentioned pay attention to refinance cost.

  • @GardensoftheAncientsHerbal
    @GardensoftheAncientsHerbal 2 ปีที่แล้ว +14

    If you can pay a lot in the first 5 years and reduce the principal then arms are worth it.

  • @Mr_Damion_Scott
    @Mr_Damion_Scott 2 หลายเดือนก่อน

    Question. What if i get a 5year arm, and pay off the house before the 5 years is up. are there any penalties

  • @jbroheretoday
    @jbroheretoday ปีที่แล้ว +1

    Excellent. Thank you so much.

  • @zaheerahshareef8131
    @zaheerahshareef8131 ปีที่แล้ว +10

    I have a 30 year fixed rate mortgage but the way my property taxes and insurance changes it feels like an ARM 🤦🏾‍♀️

    • @Karen-pu1kz
      @Karen-pu1kz 8 หลายเดือนก่อน

      Shop around for different insurance I got a mortgage and went with the insurance they gave me for years until a bulb clicked and I decided to shop around a lot of people think you have to either the insurance they give you

  • @jerp71
    @jerp71 11 หลายเดือนก่อน +3

    $300,000 at 5.5% over a 30 year term, has a P&I payment of $1703.36, not $2159.

    • @Americaonline0
      @Americaonline0 9 หลายเดือนก่อน

      I noticed that difference seemed off too

    • @jerp71
      @jerp71 9 หลายเดือนก่อน

      Not sure how she’s computing that.

  • @kalwubie6139
    @kalwubie6139 ปีที่แล้ว +1

    Thank you so much darling so helpful

  • @Alex-mi6vp
    @Alex-mi6vp ปีที่แล้ว

    Great video, thanks!

  • @charliem4867
    @charliem4867 ปีที่แล้ว +3

    Interest is currently 10%. How the hell is that worth it even to begin with? 😂

  • @ogzombiebreakfast
    @ogzombiebreakfast ปีที่แล้ว +1

    This just sounds like a variable rate mortgage with extra steps. There might be a 5 point cap, but that's a significant number. A change of even a single point is huge for most people, and even in your example, the cap is more than twice the original rate! This sounds like just another way of tricking poor people into gambling with their livelihood.

  • @LAND_Academics
    @LAND_Academics ปีที่แล้ว +2

    Thank youuuu

  • @brandhark7935
    @brandhark7935 11 หลายเดือนก่อน

    Why is Linda Cardellini giving me mortgage advice? 😂

  • @xvx4848
    @xvx4848 2 ปีที่แล้ว +13

    If you're looking at an ARM, 2008 called and wants to sell you a bridge.

    • @Mac-pluto
      @Mac-pluto 11 หลายเดือนก่อน +4

      I don’t understand the issue with an ARM. If you can’t refinance or you can’t afford the max payment you purchased a house you cannot afford.
      If you purchased something within your means by putting down 20% and/or paying it off before the introduction period ends you’ll never be under water and will always be able to refinance if necessary.

  • @user-vu8iu2sx5u
    @user-vu8iu2sx5u 5 วันที่ผ่านมา

    ARMS save so much $, why anyone would have a fixed, I dunno.