is 5/1 ArM a better option in this rate market?

2 good answers. All I will add is that you should "Google" Lenox Financial before working with them.

In 6 years that 5 year arm will adjust. All rates will probably be much higher then. Property values may still go down. Some say as much as 20% or more. Will you have enough equity to sell or refinance then?30 year fixed rates are also at historic lows. Think about the future. Not just about today. Lenox is notorious for "leader advertising." Be careful. .... Happy funding, Rudi

CaJumbo gave a good answer on this. The 5 year is almost always better than a 30 year, and they are both at all time lows. Rather than being swayed by advertising to determine what's best for you, consult with a quality loan officer from your area. I've seen CaJumboLoans' (Rudi's) advice on several questions and he knows what he's doing; I'm sure he could give you the best advice for your situation.

Hello Wayne. Freedom Mortgage is a Direct Lender that funds loans in all 50 states. We offer the 5/1 ARM and the 30yr Fixed mortgage loan. The 5/1 ARM is about 1 point lower than the 30yr Fixed. Please send me an email to discuss which program would be better for you and provide you with a few scenarios. Please email me at adennie@fmbranch.com. Thank you.

Thanks Brett. ... Happy funding, Rudi

That is correct Wayne, but Adjustable Rates are not such a good idea if you are planing on staying/keeping your property for more than 5 to 7 years.We are Costa Mesa based mortgage lender. please feel free to call or stop by for more informationHoutan HormozianHoutan.Hormozian@Crestico.com949-242-5215