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Personal Finances / Buying or Selling a Home
|Subject: Re: Buying a new home, what type of loan?||Date: 3/26/2013 9:16 AM|
|Author: Rayvt||Number: 125000 of 128462|
30 year FRM.
we will only be here for 3-4 years. So, I am thinking perhaps we should get a 5-year ARM loan.
The transaction costs will be much larger than any different in mortgage costs, FRM vs. ARM.
Rates are only going up from here. Which means your ARM will be going up.
Just because you *plan* on selling in 3-4 years doesn't mean you *will* be able to sell it.
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