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Personal Finances / Buying or Selling a Home
|Subject: Re: financing the next house||Date: 2/17/2014 8:16 AM|
|Author: 2gifts||Number: 126827 of 127946|
Thanks for the details. I was not sure how these worked.
No limits. No caps.
That would make DH insane, so there's no way we'd ever do one of these.
$1.75 per thousand interest only.
$4.12 per thousand fully amortized over 25 years.
I probably just don't understand how this is calculated, but I'm paying $4.15 per thousand on the fully amortized over 30 years 5/1 ARM that we are refinancing to, so I'm not actually seeing much advantage to using this one, at least in our case.
I do like learning about the various products, however, as you never know when a different product will be more suitable for reaching a particular goal.
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