If I am moving in less than 5 years, should i go for 5/1 ARM? Seems to be lower
Is it harder to qualify for ARM than fixed these days? or is it same? I will be moving before 5 years from here, but need a fixed payment until then. by joefolsom from , . Aug 19th 2009
David Van Waldick (Dave Van Waldick)
#112 ranked lender in California - 11 contributions
Joe,I would argue NO. Unless it was 2 years perhaps. The reason is that 5 years is a long time frame. Something may come up that will motivate you to stay in that home or rent it out long term, etc. And with todays great historically low rates, and the high risk of rising rates in the net 2-5 years, why take the chance to save a small amount each month. Dave Van Waldick, Principal Western Mortgage. "One Minute Home Loan Approvals - www.ePrequal.com"
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