| Author | Message | ||
     Kalikaalam Kurra Bewarse Username: Kalikaalam Post Number: 2547 Registered: 04-2015 Posted From: 171.161.160.10 Rating: N/A |
You have to pay PMI if your down payment is less than 20%. That is the law. 7 years arm depends up on how fast you are going to repay your loan. If you can not repay before that(most of them can not), nobody knows what is going to be the interest rate at that time.So, I'd prefer 30 year fixed. If at all you have the ability to repay, you can pay much before that period anyway. "The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman |