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Updated over 10 years ago on . Most recent reply

User Stats

28
Posts
1
Votes
Dan MacDuffie
  • Investor
  • St. Petersburg, FL
1
Votes |
28
Posts

30 year fixed 5/1 ARM

Dan MacDuffie
  • Investor
  • St. Petersburg, FL
Posted

I am near closing on a house.  My plan is to buy house and rent it for 675.00 per month for the next 24-36 months and then sell the house (I will not own it for more than 5 years and maybe even less than 3).  The cost of the house is 45,000 and I am putting 20 percent plus paying for all closing cost.  My monthly mortgage will be around 450.00 --I just read about 5/1ARM type loans-- would this be a better option for me?  Please help-- Dan

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