3.125% (10 Year ARM with 30% down) for 1.2M Primary Home
Hello, one of my friends secured the following loan from Bank of America - his family relative works in the bank & got him the following for his primary home
Home sold price $1,175,000 (1.75M)
Interest rate: 3.125
Closing date: October 2017
Down payment: 30%
Loan terms: 10 year ARM
The guy makes 250-300k”ish as combined husband - wife salary.
Is this sort of a deal possible in today’s market? Usually I have seen folks get 2.5% on 5 year ARM
Please advice.
