30 Year Fixed @ 4.625% or 7/1 @ 3.75%?

[John White]

Good Morning...

I'm closing on my first investment property and opted for the 3.75%, 7/1 ARM, over the almost 1 full point higher 30 year fixed. What do you typically do, when using conventional financing on a deal, and why? I figured the additional $130.00 per month can go toward principal pay down, but would welcome other perspectives. I've never had a fixed rate on the home I live in, as I've never live in a house for more than 5 years. I could never wrap my head around paying for insurance (Which is what I view a fixed rate as) that I know it's unlikely I'll ever need.