Is it better to get ARM or 30 year fixed rate now? Any recommendations on the best mortgage lenders? Thank you!
Only fixed rate, and only 15 years. Like Ramsey teaches
Why only fixed? We can’t afford 15 year fixed in the Bay area where houses are like 2M 🥲
You should be able to afford at least 30 year fixed. Adjustable rate will set you up for more stress and headache than you possibly can imagine
Do you have some idea of how long will you stay or keep the property? This may help
We plan to stay for a long time and refinance to fixed rate when interest is lower…
If you think interest will drop in the next few years and ARM has better rate
Most people don't keep the mortgage for 30 years, they sell or refinance. Go for ARM, especially in this market as rate cuts are expected within a year and ARM rates are significantly lower than fixed.
Thank you!
The worst advice ever. Do your research about ARM, it is a money pit
got a quote for 5.4 with 15 year fixed in bay area (costs about 7k in origination) 5.9 if you do conventional conforming
Which bank is it?
Which bank?
It varies. Last year ARM and fixed were almost the same but not recently. I just signed a mortgage for a 10yr ARM. Some banks have some products that carry attractive rates than others. If it's jumbo loans, talk to big banks. No one else can come even close to them.
Tech Industry
2d
9623
What happens when most of your team is Indian?
World Conflicts
10h
899
Why do Indians support Israel so much( on blind surprisingly) when Israel really thinks 💩of them ?
Today I Learned
Yesterday
1687
White male privilege is real
Ask Blinders
Yesterday
617
Everything seems great with this guy, except basic attraction. What to do? My friends say it’s no big deal
Personal Finance
Yesterday
1958
Thank you AAPL and NVDA
ARM