Reply To: Home Ownership

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July 31, 2016 at 2:32 am #153717 Quote
rowshkexrowshkex
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    So as we plan for buying a home in the next year or so, I’ve been looking at mortgage types, and am curious:

    What are the downsides to starting with a 5/1 ARM or 7/1 ARM then refinancing in 5 or 7 years? If cash flow for the next 3-6 years will be a problem, but then will jump pretty significantly, wouldn’t 5/1 or 7/1 be appropriate for purchasers like us?