Quote:
Originally posted by HarlotCash Dyker
With the dollar being in the shitter for so long now, I am amazed this thread didn't appear a few months ago -
If you can get a fixed rate now below 5% - Take it -
If you are remorgaging on a variable - Think about it - (The dollar isn't always going to be in the pan.)
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I really don't like standard arms too much, atleast this year.... ;)
But.... Interest Only programs are great right now, mainly if you live in a high property appreciation area, are an investor, or if you don't plan on staying in the property too long.
Interest only lets you cut down your payment dramatically, as principal payments are optional.
Very very popular west coast, and north east.