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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/since-ive-read-a-number-of-your-posts-over-the-31106829.aspx

Subject:  Re: financing the next house Date:  2/7/2014  1:00 PM
Author:  PSUEngineer Number:  126804 of 127777

Since I've read a number of your posts over the years and met you in person, I don't have the same concerns as ray. I think it's a fine plan. What is the difference in rate between the 3/1 and 5/1 ARM. If it isn't much, then the interest rate protection ofthe 5/1 may be nice in case your worst case becomes 6 years. As for what you do when you finally build your new house and sell your old house, I would analyze your choices at that time for what you do with the proceeds from the old house rather than automatically making the decision to pay off the new house too. Everyone is different. A paid off mortgage isn't one of my highest priorities.

PSU
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