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> You can get a floating rate loan, however, it if you want your payments to follow the market. And then 2008 happens again, your rate goes up 5+%, your paymen
by Sohcahtoa82 4y ago
> You can get a floating rate loan, however, it if you want your payments to follow the market.
And then 2008 happens again, your rate goes up 5+%, your payments skyrocket, and you can't afford them and you lose your home.
I think you gotta be crazy to get an ARM.
- Christophy 4y agoARMs also exist with a capped rate (eg max x2 or x1.5), then they can present an acceptable risk.