When is it a Good Idea to Choose an ARM over Fixed Rate for Jumbo Mortgage?
Based on the recent news reports of the improved housing market it would seem that the best, and only, choice for a loan would be a 30 year fixed term. For the majority of home buyers, that is a good idea. However, for a few select situations it can make sense to pick an adjustable rate loan, especially if that loan is well above the $417,000 level for conforming loans.
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