What's a good deal?
On a 80/20 housing loan. A. 2.75% 7/1 arm with $2000 credits B. 2.875% 7/1 arm with $5000 credits
How much is the loan amount? I mean if it’s a $100 loan obviously you want $5k credit.
Are these answers what msft accepts these days? 😂 😂 😂 😂
$900K, doing 20 down
Why you taking an ARM with interest rates so low? Plan on selling after a few years?
May be; the rates are cheaper
Do you guys think these rates are applicable to refinance as well ?
Find the payment with each when you deduct the discount from loan amount
2.75 is cheaper /better
Don’t get an arm when 30yr fixes rates can be had for 3.5-3.8%.
You can’t go wrong with any. But $5k credits is better. Rates are not expected to rise in the next few years, and might see a drop again when the economy goes down (really high chance within the next 3 years). You’ll have the opportunity to refinance then.
What are those credits?
Could be credit towards closing cost.
It really depends on your own personal financial situation and future plans, tbh