Should I choose a fixed-rate or adjustable-rate loan?

heavenhack7 · Joined: 05 Apr 2007 Posts: 73 0.78 Dollars($)

wablola · Posted: Tue Apr 24, 2007 10:14 am Post subject:

It depends on what your plan is for the house. Do you plan on living there for mre then 5 years? It all depends.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

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

willisaddo · Posted: Tue Apr 24, 2007 11:13 pm Post subject:

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.

blue · Posted: Wed Apr 25, 2007 12:57 pm Post subject:

Welcome Will Addo to Mortgagefit discussion board. Your suggestions will be of great help to community members. Smile

Blue

colin · Posted: Wed Apr 25, 2007 2:00 pm Post subject:

"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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