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10/1 ARM loan Good idea or bad?

New Contributor

10/1 ARM loan Good idea or bad?

I just need some opinions.......

 

I have a pre-approval for  a 10/1 ARM @ 4.00 100% finance...

 

If you have experience, what do you think?

 

When can a ARM loan be refinanced?

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Valued Contributor

Re: 10/1 ARM loan Good idea or bad?

Based on my recent experiences, that is a pretty darn good deal.

 

I LOVE ARM's but then I throw lots and lots of lots of extra money on the principle to pay it off super early.

 

It use to be (and I think it sill is) that you need to have 6 months under your belt before you can refinance.

 

Are you going for it??

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