▲ 1 r/Mortgages
Peach State CU 10/10 ARM with no PMI??
This deal seems too good to be true. Am I missing the catch?
5.625% initial rate, cap interest is 6.95% changing only once every ten years. No PMI with 10% down. Even worst case, at 6.95% our monthly payment would be the same as our fixed rate 30 yr of 6.375% with PMI. What am I missing?
u/Drago678 — 9 days ago