30 year or 7/1 Arm for a Refi?

[Clayton Bray]

Hey Good People! The lowest rate I can get is with a 7/1 Arm on a Refi. Being that this home is a business, is it best to go with the lowest APR? The difference is pretty big for the next 7 years... Chances are high that I'll refi this property again. Thoughts?

[Jeff Shumway]

Do you plan on having the property more than 7 years? If not, then going with the ARM sounds like it could work for your needs. If you think you'll have the property more than 7 years, then the 30 year fixed is probably the better option.