▲ 1 r/Mortgages
Does this refi make sense?
Bought home couple years ago at 6.63% fixed 30 year rate with 20% down. Got an offer for 5.49% 10 year ARM (5.84% APR) that would save about $500/month with a break even of 7 months. Current plan is to stay here long term. Generally pretty risk averse but this seems like a no-brainer, right?
u/Hammie_the_third — 7 days ago