What is right and what is wrong these days!
- Jun 25, 2018
- Reaction score
I got your back unless the pitchforks and fire come out. Then you are on your own.Im gonna take a rash of shit I’m sure but......
That 10/1 ARM I posted earlier seems pretty attractive. It says maximum APR is 7%. Is that on top of the 3.1%?
10 years of 3.1% today is saving 2-2.5%. If you put that money aside I bet even in a worst case scenario you’d be money ahead for 12-15 years.
Typically it is written in ARMs that the rate of increase is only so mush a year. In this fast raising market this would be good being that it will take years before you max out. If rates go up to 10% you are ahead of the game with 7% max. :dunno: for sure but have to read the fine print.