Is now a good time to get an ARM 5/1 loan? I plan to sell my home within 5-10 years.

Depending on your risk tolerance, an ARM can be an empowering financial tool. Make sure to discuss with your mortgage planner the pros and cons of an ARM with your overall financial goals.

Fixed rates are so low I don't recommend ARMS regardless of when you sell.

If you looking at Jumbo rates then you might be inclined to do an ARM. However, I would refrain from the shorter fixed period ARM loans. Another option to explore is buying down the interest rate on a fixed rate term. Fixed rates are at historic lows. Don't let them get away!

30-year or 15-year fixed may be a better choice.

With fixed rates as low as they are, there is little benefit from an ARM loan currently. However, I agree with some of the other posts. Jumbo loans (above the Fannie Mae conforming loan limits for your area) can have very attractive pricing on ARMs right now, while those 30-year fixed rates can be higher. When financing a large loan amount, it can make a large difference in monthly payment.

If you plan on staying in you home only for a short time, ARM are fine:To better help you, I would like to see your financial situation.Please send me the following information for all borrowers:1. 1 Month of current pay stub's2. 2 Year W-2 Income Statements3. 2 Year 1040 Federal Tax Returns4. 2 Year Business Tax Returns5. 3 Months of current Bank Statements (if you own a business)6. Copy of Drivers Licenses Please forward them to:James Mazzola8 Matthew AvenueKendall Park, NJ 08824jmazzola@sunnm.com or cornoil@comcast.netIf you have any questions, please do not hesitate to contact me:(O) 973-805-4107(C) 732-501-4249(F) 732-951-0629Thank you,James Mazzola

Alot can change in a 10 year timeframe. I would stick with a fixed rate since they are so low and it will provide piece of mind.

Rates on adjustable loans are amazingly low. Contrary to popular media bias... these loans are great for the right person. If you are thinking 5-10 years, I'd lean more towards a 7/1 ARM because you get two more fixed years with just a minor rate increase over a 5/1 ARM. www.MinnesotaBestRates.com