- Jan 6, 2001
- 22,530
- 13
- 81
My situation won't fit the normal online calculators so I come here to borrow the brains of my fellow ATers.
Loan Amount: 265k
We will be tossing around 120k at the mortgage within the next 4 months.
Loan Options:
30 years fixed - 3.99
20 years fixed - 3.75
7/1 arm with 30 year amortization-3.0 5/2/5 caps which means a ceiling of 8% based on the labor with a margin of 2.5%.
We plan on staying here long term. Paying the house off in 7 years would be pretty tight but 10 years is more realistic. Thoughts?
Loan Amount: 265k
We will be tossing around 120k at the mortgage within the next 4 months.
Loan Options:
30 years fixed - 3.99
20 years fixed - 3.75
7/1 arm with 30 year amortization-3.0 5/2/5 caps which means a ceiling of 8% based on the labor with a margin of 2.5%.
We plan on staying here long term. Paying the house off in 7 years would be pretty tight but 10 years is more realistic. Thoughts?
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