Updated over 7 years ago on . Most recent reply
30 yr fixed vs 10/1 ARM
Hi experts - I am planning to buy my principal residence on loan and need to decide between 30 yr fixed.vs 10/1 ARM.i am first time home buyer with no previous ownership.
Below are details:
Loan:400k
30 yr fixed rate = 4.5% without points
10/1 ARM = 3.5% without points
The difference comes to $250 per month.
Please advise. I plan to use my extra savings to invest in a rental purchase within 1-2 years.
Thanks
Kundan