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7 Year ARM vs. Conventional – July 2024
7 Year ARM vs. Conventional - July 2024 Looking to purchase a $675k home with 20% down and weighing the two options below for financing. Situational context below also. Thoughts?: 1. 7 Year ARM – 5.875% buying down w/ $10,800 (2% of 540k loan) a. $160,192 cash to close b. $4,022 mortgage 1. 30 year Conventional – 6.75% a. $149,586 cash to close b. $4,330 mortgage Monthly mortgage diff...
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