- What would your total costs be, were you to maintain your two current mortgages and pay them as you plan?
- What would your total costs be, were you to take the 5-year ARM and make the same monthly payment as in the first scenario?
If option two saves you the most money, then weigh how comfortable you are in the ARM. If you are very confident it will be paid off, go for it. If you are not so confident, the ARM may not be the way to go. However, even if it takes a bit longer than five years to pay off, you will owe so little at the end of five years that the potential upward adjustment on your remaining balance is likely to not be very significant. I recommend you shop around for the best loan you can find. Start by visiting the Bills.com refinance savings center to get no-cost quotes from mortgage refinance providers. I hope this information helps you Find. Learn & Save. Best, Bill Bills.com
Loading more commentsSince you don't have facebook, please provide us with your location and a valid email address so we can answer it. Without a valid email address,we can't reply. (Go back to login with Facebook)
Due to the high volume of comments received, we cannot publish and/or respond to every comment received. If you have a specific question, we recommend you search our site for an answer before commenting.
* Bills.com will not share, sell, lend, or make public your e-mail address. We reserve the right to delete any questions or comments that violate the Bills.com terms of service.
We get a lot of comments! To help us show our boss that this is a valuable service, so we can keep providing it, we ask you to do 2 things before commmenting:
Log in
Like us
Submit your comment!
Due to the high volume of comments received, we cannot publish and/or respond to every comment received. If you have a specific question, we recommend you search our site for an answer before commenting.
* Bills.com will not share, sell, lend, or make public your e-mail address. We reserve the right to delete any questions or comments that violate the Bills.com terms of service.
Thank you for your comment. Your comment will be posted shortly.
No Comments