I signed a contract for a new built home back in January when the rates were 3.5, the purchase price on the home was 530k, and those same contracts are going for 580 as of now, I am 3 months out until closing and can now secure a rate, should I secure the best market rate, or try and get an ARM loan since the rate could be cheaper and there should technically be equity in the home to refinance later.
First time home buyer
submitted by /u/Kokemon98
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I signed a contract for a new built home back in January when the rates were 3.5, the purchase price on the home was 530k, and those same contracts are going for 580 as of now, I am 3 months out until closing and can now secure a rate, should I secure the best market rate, or try and get an ARM loan since the rate could be cheaper and there should technically be equity in the home to refinance later. First time home buyer submitted by /u/Kokemon98 [link] [comments]
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