We are actually thinking about doing a 10/1 arm because it takes us from a 7% to a 5.25 or 5.50% which is a huge difference. With the intention to either sell, or refinance in year 9, and with the principal paid off, refinancing would drop the payment big time with the equity.
We are actually thinking about doing a 10/1 arm because it takes us from a 7% to a 5.25 or 5.50% which is a huge difference.
With the intention to either sell, or refinance in year 9, and with the principal paid off, refinancing would drop the payment big time with the equity.