Posted on: 25th Jul, 2009 11:00 am
I am considering dumping a 3.99% 5 yr arm with 4 yrs remaining for a 30 yr fixed rate. I will be paying closing costs etc after refi a year ago. Last year I figured I would sell another property in 5 - 6yrs which would more than cover the mortgage on my primary residence which I would then pay off. I'm no so sure that is going to happen in that time frame.
gmstrand
Welcoem to the forum
In this currene market, it is benificial to go with a fixed rate. Especially interest rates are lower and they will go up in the future.
If you plan to keep it for little longer than 5 years, you will be better off goign with 30 year fixed.
Good luck and feel free to ask
G
Welcoem to the forum
In this currene market, it is benificial to go with a fixed rate. Especially interest rates are lower and they will go up in the future.
If you plan to keep it for little longer than 5 years, you will be better off goign with 30 year fixed.
Good luck and feel free to ask
G
yes. it depends upon how long you want to continue. if you are planning to sale it in next 4 yrs, do not go for fixed otherwise refinance it.