Re: Switching from ARM to Fixed Rate
A lot really depends on how long you plan on keeping the house. If it's your dreamhome and you are planning on keeping it forever (either as primary or rental) then it's just a numbers game. 3 years is a long time and 5.25 is a low rate, so you would want to get something pretty good to make the switch. Obv, if you are planning on selling in the next 5 years, you wouldn't do anything. You likely have a cap on how high the first adjustment can be, so you would be fine even if it adjusts.
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