If I am moving in less than 5 years, should i go for 5/1 ARM?
I would need a fixed rate for the next 5 years. Would i be able to qualify for an ARM or is that harder to qualify for? by iegh87609 from Canyon Lake, Texas. Jan 29th 2018
Michael Diaz (sincityloandr)
#60 ranked lender in Nevada - 66 contributions
I definitely would go with a 5/1 ARM, it really seems to be the best scenario for you. We just need to qualify you 2% above the note rate, or we can do a 7/1 arm and qualify you ont he lower rate. We are direct so we really dont have overlays. Just email me for info mike.diaz@rate.com or get info online www.escrowsaver.com
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Qualifying for an ARM can be tougher since you typically have to qualify for a rate that's actually 2% higher than your start rate.. Other than that, qualifying is the same. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893
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