Can i get lower rate on a 5 year arm versus 7 year?
Anyone have an idea of the difference or what your personal rates MIGHT be with 724 fico by jartizen4976177 from Brooklyn, New York. Feb 20th 2015
Nathan Baram (broker@bestratecapital.com)
#125 ranked lender in New York - 6 contributions
It depends on whether you are looking for a cash out, rate and term, or home purchase loan. It also depends on whether the home is a single family, 2 family, condo, etc... But roughly a 5 year arm is at 3.25% with no points and a 7 year arm is at 3.375. 30 year fixed is at 3.875.RegardsNathan BaramCEOBest Rate Capital Inc. DBA BRC975 West Jericho Turnpike Suite 3 Smithtown NY 11787work:(631)360 0003cell: (631)525 1166Fax: (631) 574 3139www.BestRateCapital.comNMLSR#82064MLO NMLS ID#17296
SHAHROKH CHARLES BEROKHIM (mortgageusa)
#87 ranked lender in New York - 68 contributions
the answer is YES. but with 30 year fix rate at historical low , it might be better to go with 15 or 30 year fix
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