Updated over 3 years ago on . Most recent reply
Would you take 3% with 7yr balloon or 2.75% with 5 yr balloon?
If you had to make a decision in the current market, would you take 3% with 7yr balloon or 2.75% with 5 yr balloon? On a 20 yr amortization. What is your reasoning?
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At those interest rates I'm taking the longest terms I can get. Heck I would negotiate 30yr amortized with no balloon if I could - show the sellers the numbers and how much extra they make if you pay them the full 30 years and point out that with current interest rates on the rise there is no reason for you to Refi out. They get 30 yrs of income and you get a great deal