http://www.mapgirl.net/mfc/2006/09/28/how-do-you-know-if-an-arm-is-right-for-you/ Just tidbits about money and finance. Thu, 20 Nov 2008 13:35:17 +0000 http://wordpress.org/?v=2.5 http://www.mapgirl.net/mfc/2006/09/28/how-do-you-know-if-an-arm-is-right-for-you/#comment-720 Chris Thu, 28 Sep 2006 17:50:00 +0000 http://www.mapgirl.net/mfc/?p=500#comment-720 I personally have an ARM Mortgage on my house and could not be happier. The mortgage allows me to make bigger payments in months when my expenses are lower, but also have the floexibility to make the minimum if need be. The main factor is not buying too much house and being financially savy enough to budget. If you can do those couple things, an ARM is a great product. Also, I should mention, obtain an ARM with a readjustment period which is longer than you plan to stay in the house. I know I plan on moving in less than 5 years, so the 5/1 arm works. I personally have an ARM Mortgage on my house and could not be happier. The mortgage allows me to make bigger payments in months when my expenses are lower, but also have the floexibility to make the minimum if need be. The main factor is not buying too much house and being financially savy enough to budget. If you can do those couple things, an ARM is a great product. Also, I should mention, obtain an ARM with a readjustment period which is longer than you plan to stay in the house. I know I plan on moving in less than 5 years, so the 5/1 arm works.

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