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Updated over 2 years ago on . Most recent reply
7yr ARM vs 30yr fixed in these times?
On the hunt for financing for our 2nd STR. Thoughts on 7yr ARM vs 30yr fixed with these high rates? I can save about .5% with the ARM and $4k in closing with one lender. If we plan on refinancing down the road why choose the 30yr?
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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
Pro Member
#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Personally I would do the 30yr. If we were talking about 1.5% difference, then maybe, for for .5%, I am not sure I would put myself in that position.
The future holds a lot of things and you never know how it will go. My 2 cents.