We bought the house about a yr. ago and have 2 yrs. left on a 3 yr.ARM @ 4.25%. The question is: Do I shop for a fixed loan now while percents are still low or ride it out and start a new loan after this one ends?
Next: We will be getting some inheritance $ soon, maybe 50K so do I put it towards the principle now or wait until a refinance or new loan begins to add it?
Thanks, and the 3yr. ARM is based on 30 yrs. I heard also from a another that if you can relax in the long term an ARM will save you money, but you got to admit if at the end of my 3 yrs. and there is a fixed at 4.25% (like my current ARM)it would be tempting to lock it in. How's that work anyway, if at the end of the 3 yrs. I get another ARM or even a fixed is it now based on 27 yrs?
- 15 Old House Features We Shouldn't Abandon
- 17 Tiny Bathrooms We Love
- 11 Signs of an Unhappy Houseplant
- Insanely Easy 60-Minute Home Improvements
- 10 Cool Shipping Container Homes
- 9 Perfect Color Combos for Your Home
- 22 Tiny Houses We Love
- See the Most Highly Anticipated Colors for 2015
- Assembly Required: 15 DIY Kit Homes
- Favorite Space-Saving Double-Duty Furniture
- 10 IKEA Favorites, DIY Style
- Redecorate Without Spending a Dime: 10 Ideas
- 10 Houseplants You Can Grow Anywhere
- 9 Amazing Mobile Home Makeovers
- 10 Doable Designs for a DIY Rug
- 9 Alternative Uses for Toothpaste
- Live Large in a (Very) Small Space
- 8 Cheap and Unique DIY Nightstands
- 15 Eye-Catching Options for Your Front Door
- Supersize Your Small Bath with 8 Pro Tips