Assuming A+ credit score, (> 770), whats the mortgage rate you have got and from which lender?
30 year fixed or ARM?
I will start with my current offer:
Wells Fargo-71 ARM-3.5% -30 year fixed - 4.125% - 1M loan and 20% down.
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comments
As our national debt grows towards 30 trillion, this scheme will not last. In 10 years, we’re looking at close to 36 trillion dollar debt. Rates will have to go back up before then. Money will cost a lot more to borrow.
The first year reset of ARMs can be very jarring. I got a 30 year fixed because I’m done moving around and looking for a long term hold. I’m not touching ARMs with a 6 foot pole. The best ARM I can find only saves me ~$250 per month. Not worth the savings.
I’d rather take my RSUs and invest it or make a large payment once per year on my 30 year fixed. I do not plan on selling my home. I’ll rent it out when I’m ready to move.
They didn’t allow me to use my additional $250k of heloc to get 0.25 discount