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 heavenhack7
Joined: 05 Apr 2007
Posts: 75
1.14 Dollars($)
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 Posted: Tue Apr 24, 2007 6:44 am Post subject: Should I choose a fixed-rate or adjustable-rate loan? |
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| Should I choose a fixed-rate or adjustable-rate loan? |
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wablola
Joined: 19 Dec 2006
Posts: 51
Location: San Diego, CA
18.89 Dollars($)
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| Posted: Tue Apr 24, 2007 10:14 am Post subject: |
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It depends on what your plan is for the house. Do you plan on living there for mre then 5 years? It all depends.
_________________
Wenzel Ablola
Loan Officer
Allied Home Mortgage Capital Corp.
alliedsandiego.com |
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.92 Dollars($)
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| Posted: Tue Apr 24, 2007 11:14 am Post subject: |
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heavenhack7, that will also depend on kind of rates you are getting on these loans, what kind of payments you can afford among many other things. So you need to tell some more things about what you are looking for.
Miller |
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willisaddo
Joined: 10 Oct 2006
Posts: 32
Location: Atlanta
17.53 Dollars($)
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| Posted: Tue Apr 24, 2007 11:13 pm Post subject: |
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I would have to say the merely depends on if you feel this current home is the home you would continue to live in for 30 yrs. If not, you might want to consider an adjustable rate because you'll get better interest rates. It would be up to you on length of time you would want the interest rate to be fixed. 2, 3, 5, 7 or 10 yr.
Let me know if that answered your question.
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Will Addo
Wells Fargo Home Mortgage
678-473-6776-O
www.wfhm.com/wfhm/willis-addo Website
“Your credit score: Those three little numbers
can have a six-digit impact on your life.” |
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blue
Joined: 21 Oct 2005
Posts: 1138
Location: MARYLAND
137.84 Dollars($)
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| Posted: Wed Apr 25, 2007 12:57 pm Post subject: |
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Welcome Will Addo to Mortgagefit discussion board. Your suggestions will be of great help to community members. 
Blue
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Lets help each other. Try my blog |
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colin
Moderator
Joined: 30 Jun 2006
Posts: 602
Location: Waltham, Massachusetts
112.65 Dollars($)
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| Posted: Wed Apr 25, 2007 2:00 pm Post subject: |
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"Should I choose a fixed-rate or adjustable-rate loan?"
Heavenhack, this page would give you a better idea of the difference between these 2 types of loans and when it would be appropriate to select a frm or an arm loan: http://www.mortgagefit.com/fixed-adjustable.html |
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