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
- 16 Designs for a Low-Cost DIY Coffee Table
- Insanely Easy 60-Minute Home Improvements
- 12 Sheds You Could Live (or Work) In
- Assembly Required: 15 DIY Kit Homes
- 30 Things Every Adult Should Know How to Do
- 10 Surprisingly Simple Woodworking Projects
- 7 Surprising Other Uses for Mayonnaise
- 9 Ways to Make Your TV Look at Home
- 9 Totally Amazing Mobile Home Makeovers
- 21 Ways to Spring Clean—Naturally
- Show Off: 9 Ways to Display a Collection
- The Best Paint Colors for Low-Light Rooms
- 7 Easy Budget-Friendly Backyard Makeovers
- 8 Clever Storage Solutions for Pots & Pans
- 8 Creative OTHER Ways to Use a Closet
- 12 Tiny Gardens to Grow on a Tabletop
- 15 Eye-Catching Front Door Options
- 12 Places You Never Clean—But Should!