5/1 ARM or a 30 year fixed..........

[Michael Dunn]

I am trying to weigh my options on if I should go with a 5/1 ARM or a 30 year fixed mortgage. I was leaning towards the 5/1 , because

1. I could get a cheaper interest rate initially

2. I don't plan on living in the house for longer than 5 years ( 1-2 years tops ) is my goal anyways. I plan to Rent it out after I have lived there for 1 year

Thanks BP community, as always, I really appreciate every ones insight and help