In deciding what loan is best for your situation, it is always wise to anticipate how long you may need to mortage.
Do you get job transfers periodically?
Are you planning on relocating for retirement?
Do you want to downsize when the children are out on their own?
Do you plan on buying a larger home in the future?
Any number of life's paths may make an ARM mortgage a reasonable choice for you at the time you are considering a purchase or refinance laon.
Consult with your tax professional or investment advisor to learn of the total picture surrounding your debt management when it come to a home loan.
If you save lets say 1% on the interest rate for an ARM loan vs. a fixed rate loan; what should you do with the savings?, should you paydown the principal with the savings and increase your equity? or should you invest the difference?
Tax considerations are best evaluated by these professionals for you as the tax code is too complex to trust to advice of friends or acquaintances.
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