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Points for a ARM

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  • Random1
    replied
    If you plan on staying 10 years you will $7200, so if you costs you less than $7200 it seems to make sense. Though I would consider fixed rate if you think this will be the forever home.

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  • Empoderada
    replied
    Originally posted by Random1 View Post
    How much does it change the interest rate, how long will you have this rate, how long will you live in the house and what is the new rate after the adjustment ?
    It would change it by .1 or $60/month. Fixed for 10 yrs. Probably will be in house for at least 5 years . Can go upto 8% after 20 yrs but hoping to refinance before then

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  • Random1
    replied
    How much does it change the interest rate, how long will you have this rate, how long will you live in the house and what is the new rate after the adjustment ?

    Leave a comment:


  • Empoderada
    started a topic Points for a ARM

    Points for a ARM

    Is purchasing .125 points worth it for a 10/6 ARM mortgage?
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