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re: Question about my 5/1 arm mortgage.
Posted on 8/5/11 at 1:03 pm to siliconvalleytiger
Posted on 8/5/11 at 1:03 pm to siliconvalleytiger
quote:
Libor plus 3%. My monthly payments will be much lower once my 5/1 expires.
This is assuming it wasn't interest-only during the AR period or that it wasn't a pay-option where you were paying less than owed.
2
Posted on 8/5/11 at 4:47 pm to Tiger JJ
I had a 7 year ARM end this year and my current 12 month rate is in the 3s. Will probably refinance sometime before the end of the year, but for now I'm content.
Posted on 8/5/11 at 5:43 pm to Tiger JJ
quote:
This is assuming it wasn't interest-only during the AR period or that it wasn't a pay-option where you were paying less than owed.
Not interest only and nor was I paying less than owed. It was a pretty standard 5/1 arm at the time.
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