d********9
发帖数: 7 | 1 get quote from boa, 5 year arm with 5-2-5 and 0 point, 3.85%, 7 year arm
with 5-2-5 and 0 point, 4.5%,30 years fixed with 0 point, 5.125%.
5-2-5 just means the first adjustment cap is 5% , annual adjustment is 2%,
and life-time adjustment is 5% ----- still don't quite get it. Any expert
can help that.
this is a high-end condo. i will move out once get married with kids.Any
suggestion about arm or 30 years fixed. Thanks a lot | b********3
发帖数: 994 | 2 ARM, of course, since you do not have plan to live for long time.
5/1 5-2-5 ARM 2.25 margin means that at the 6th year, your rate will be no
more than index+plus margin 2.25+cap; from 7th year, your highest rate will
be no higher than previous rate+2%; in the life time of your loan, your
possible highest rate will be no higher than index+margin+5%. | d********9
发帖数: 7 | 3 thanks a lot. is it possible for me to refinance at year 6, change to 30year
fixed or other programs? thx. |
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