3 ms·
Yeah, but some people switch to adjustable rate or balloon mortgages when they can't afford fixed. This is what I did when I bought my first house in 1988, with
by HarHarVeryFunny 4y ago
Yeah, but some people switch to adjustable rate or balloon mortgages when they can't afford fixed. This is what I did when I bought my first house in 1988, with fixed rates over 10%.
- lazide 4y agoBetter hope that interest rate doesn’t increase instead!
- HarHarVeryFunny 4y agoYes, indeed! If the rate increases are capped then you have a bit of control over it, as you do by choosing the adjustment period (1 vs 3 vs 5yr ARM).