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Is a 10/1 ARM a no brainer in this situation?
Is a 10/1 ARM a no brainer in this situation? Currently starting the process of refinancing with a local credit union. They have an offer at the moment where they are covering all closing costs above $1000. We have 29 years left on a $415,800 loan at 7.25%. PITI is $3550 and P&I alone is about $2,830, and we pay a flat $4,000 monthly, so about $450 extra every month goes to principle. Credi...
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