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30 year vs 10/6 arm

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  • #16
    Probably the 'easiest' envelope calculation:

    the movement would be cash out and then pay down the primary mortgage saving x% of the mortgage = y dollars savings -- say the $400k * x% = y dollars

    Then calculate the cash flow of property - would that be equal to y dollars. That's the simple math

    The complex math would include the timing of the cashout of the original property - but that will also need to take into consideration of property values, inflation, depreciation, recapture, etc. All with rather large unknowns

    compare that with potential investment that would happen with the future earnings with same unknowns; equities market, inflation, long term gains taxation.

    Start with the easiest question: do you mind being a landlord.

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    • #17
      Why buy? Economy is not doing well. You may get better prices this fall or in 2023.

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      • #18
        Originally posted by resident_1 View Post
        Why buy? Economy is not doing well. You may get better prices this fall or in 2023.
        Probably you are right

        too late for us ,we have moved ahead .
        We thought the same in 2020 and here we are 😩
        we plan to stay here long term and also hope to put old house in market by June/early July. If we wait , that price will drop too

        thanks though .

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        • #19
          Originally posted by uksho View Post
          Hello, after going back and forth
          we put an offer and it got accepted

          the mortgage initially will be 890K
          and after selling our current house will be roughly 490 k (roughly =annual gross for family )

          question: 30 year 4.625
          10/6: 3.875

          which one should I choose? I am leaning towards 10/6

          please advise . Thanks

          who gave you 3.875 for 10/6 and is it still valid now? Also did you put a down payment?
          curious as I just locked a 10/6 for 4.125

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          • #20
            Originally posted by R8nium View Post


            who gave you 3.875 for 10/6 and is it still valid now? Also did you put a down payment?
            curious as I just locked a 10/6 for 4.125
            Keybank , haven’t closed yet, It should be valid
            I Believe rates are changing every week too .
            Last edited by uksho; 05-25-2022, 11:21 PM. Reason: 15%

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            • #21
              Originally posted by uksho View Post
              Hello, after going back and forth
              we put an offer and it got accepted

              the mortgage initially will be 890K
              and after selling our current house will be roughly 490 k (roughly =annual gross for family )

              question: 30 year 4.625
              10/6: 3.875

              which one should I choose? I am leaning towards 10/6

              please advise . Thanks
              What is the mortgage rate on the current house ?

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              • #22
                Originally posted by Dont_know_mind View Post

                What is the mortgage rate on the current house ?
                paid off . We went with 10/6

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