Urgent question about LOAN for HOUSE
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|Mon, 06-23-2003 - 11:41pm|
Heres the question: Do I go with the loan of 5% conventionally fixed for 30 years with a payment of 948.00 a month?
Do I take the advice of a financial planner who advised me to go with a 5-7 ARM, which would lower my payment for the first 5-7 years by like 200 bucks or more, at a rate of 3.9%, and then go with the going rate at 5-7 years from now?
My uncle says I am crazy to to the ARM, but the financial adviser says I should do it. Please also note that my financial advisor is not affiliated with my Loan company.