rate question?

pixie · September 8, 2003

Whats better 6.1 fixed 30 year or 6.6 fixed 30 year with 3000.00 bond assit? We only plan to live there 5-10 years.

NeedItNow · September 8, 2003

If you plan to live there 10 years at the most, the answer to your question is a 10YR ARM.

pixie · September 8, 2003

We thought of that but things may change and we may stay longer. I can't say for sure we will leave sooner or if we will leave later than 10 years.

DACMAN · September 9, 2003

Easy answer

6.1% and use a Downpayment assist program other than a bond. For info see www.partnersincharity.org, www.ameridream.org.

DACMAN · September 9, 2003

Harder answer:

I am assuming you are working with broker/lender. Ask them to figure it out since you ar paying them to put your loan together.

Have them show you the total cost of the loan after 5yrs, 10 yrs, 15yrs and 30 yrs

Asnwer will be real easy then.

Recommended Posts