Buying new house. Option for 4.99% for 3 years or lock in for 30 years at around 6.5%. We can adjust rate anytime in the 3 year period.
In the process of building new house. Once complete, lender has special offer of 3 years at 4.99% then convert to fixed rate. We can adjust anytime during the 3-year period. Our thought was to lock in if it drops below 6% during that 3-year period or would it be smarter to just lock in now at around 6.5-6.75% for 30 years?
u/Brewcrew464 — 1 day ago