10/1 ARM loan Good idea or bad?

[Anonymous]

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?

[IOBA]

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??