New Build Townhome - 4.99% 5/1 ARM. RIP OR DIP?
My fiancée and I are interested in these new construction townhomes. The area is great, we’re on a VIP list for supposed “early bird pricing” and “pick of lot”.
Their offer is 4.99% on a 5/1 ARM. 1% max adjustment per year, 9.99% max
Other option is a non-new build. One program we’re looking into from a has a no-PMI, 0% down option from a credit union. Sounds interesting.
Just feeling fucked as a FTHB.