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by gbronner
1380 days ago
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loans are underwritten based on both the intrinsic value of the house and your ability to repay. You can't predict that second one years in advance. You can get a floating rate loan, however, it if you want your payments to follow the market. |
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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.