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5/1 ARM

Do You Want to Take Advantage of Low Rates, But Will Be Moving in 4 to 7 Years?

July 22, 2009

Most borrowers have always been accustomed to getting 30-year fixed mortgage loans. Even when not practical, many still want the 30-year fixed rate.
But for anyone moving/selling within 4 to 7 years, some thought should be given to a more short-term mortgage such as the 5/1 ARM or the 7/1 ARM.
What is the 5/1 ARM?

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