Poll: ARM vs. FIXED rate mortgage - New Jersey (NJ) - Page 2

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Poll: ARM vs. FIXED rate mortgage

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View Poll Results: Would you consider an ARM or FIXED rate mortgage?
7 ARM	2	10.00%
30-fixed rate mortgage	18	90.00%
Voters: 20. You may not vote on this poll

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10-16-2010, 07:16 AM

sonofagunk

1,627 posts, read 3,795,673 times

Reputation: 1192

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If you know you are moving in 7 years, and are going to sell the house no matter the market, then do a 7/1 ARM, no question about it. But with that said, if you know you are going to move in 7 years, I would say just rent. Takes 5-7 years to break even on a house in "normal" conditions (but who knows right now)

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