Quote:
Originally Posted by fumanchu41
IMO, if you are only planning on being in the home for 5 years, I would do a 5 yr fixed rate interest only arm. It'll keep your payments low, and you can always pay more on it each month to reduce your principal. Longer than 5 years, I would probably keep what you have unless you can get a better rate and no closing cost. Keep your current equity.
|
DO NOT TAKE THIS RIDICULOUS ADVICE!!! what happens if your "plan" to only be in the house 5 years does not work out? these are the kind of stupid loans people get that get themselves in trouble. some people just never learn.