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You have an option on an ARM that has a two-year adjustment interval, 4% margin, 2% periodic rate cap and a 6% lifetime cap- The current initial rate is 5.35%- You can also get a 30-year, fixed-rate mortgage for 6.65%- You plan on staying in this home for at least 10 years. What would be your best choice?

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The three main similarities between mortgages and car loans are that both are: Installment loans. Types of secured loan. Have a fixed payment period


You have an option on an ARM that has a two-year adjustment interval, 4% margin, 2% periodic rate cap and a 6% lifetime cap- The current initial rate is 5.35%- You can also get a 30-year, fixed-rate mortgage for 6.65%- You plan on staying in this home for at least 10 years. What would be your best choice?






 
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