ARM to Conventional

[Brett Hogan]

looking for some opinions on an idea. im checking on a few arms. one that i like particular is a 30 with 10% down at 4.64 apr. 5 year lock ins with no more than 2% change with each change.  

if i use this to purchase a property and the apr does go up to 6.64 at the 5 year mark, couldnt i just refi with another bank?

[Marcus Johnson]

Why would you do an arm loan in this financial environment? Do you think rates could go lower. Rates can only go up and you'd be in a world of hurt should the value of your property suddenly rank at the end of your term. Don't do it.