5/1 ARM - 3.0%
7/1 ARM - 3.5%
10/1 ARM - 3.875%
No Cost Loan
75% LTV
Home Cost $1M (Loan amount $750K)
Which option would you pick if you knew you would stay in your home at least 5 years but not sure about 7-10 years given that interests rate are likely to rise. Is one relatively a better deal than the others?
7/1 ARM - 3.5%
10/1 ARM - 3.875%
No Cost Loan
75% LTV
Home Cost $1M (Loan amount $750K)
Which option would you pick if you knew you would stay in your home at least 5 years but not sure about 7-10 years given that interests rate are likely to rise. Is one relatively a better deal than the others?