5/1 arm any good ?

Asked by Kathy, 11756 Mon Mar 3, 2014

My banker offered a 5/1 arm ... Starting at 2.75% and states can only go up 1% one time a year after that however he says at that time I can refinance and get rid of mortgage insurance.. Doesn't seem like a bad deal.

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Kathy, Home Buyer, 11756
Mon Mar 3, 2014
I plan on staying at least 13 yrs.
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Vera Cohen, Agent, Rensselaer, NY
Mon Mar 3, 2014
How many years are you planning to stay in the house before you will sell?

Vera Luft

Branch Top Producer

Licensed RE Salesperson

RealtyUSA

cell:(518)859-8117

vluft@realtyusa.com

fax:(518)286-1140

o: 286-1000
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