Comments on: Adjustable Rate Mortgages (ARMs) – A Positive Perspective http://www.fivecentnickel.com/2006/06/23/adjustable-rate-mortgages-arms-a-positive-perspective/ personal finance tips, tricks, and commentary Sun, 22 Nov 2009 02:21:27 -0500 http://wordpress.org/?v=abc hourly 1 By: J http://www.fivecentnickel.com/2006/06/23/adjustable-rate-mortgages-arms-a-positive-perspective/comment-page-1/#comment-27699 J Thu, 05 Oct 2006 21:30:06 +0000 http://www.fivecentnickel.com/2006/06/23/adjustable-rate-mortgages-arms-a-positive-perspective/#comment-27699 I have an ARM and had one on our last place. There are three major factors involved for us on why an ARM is a good thing. First place we bought with an ARM, 1 bd 500 sq ft condo. Great for a 22 and 24 y.o couple, not good for growing family. So we knew we'd be moving soon enough when we had kids and we got an ARM. Second hubby graduating = way more money. His income went went up about 4-5x more. Okay another reason an arm worked, because we were going to vastly different income levels. Third, location, we now have an ARM because of the two previous reason and our third. We don't like it where we live and will be moving eventually. So we got a long arm 7/1 last year, and will move eventually back closer to our family (we live 3k miles away). So ARMs work for us because it makes logical sense to lock a rate for a time period where we know we'll be staying. Our current place is nice but also not really appropriate to having a family. But good for starter place. I have an ARM and had one on our last place. There are three major factors involved for us on why an ARM is a good thing.

First place we bought with an ARM, 1 bd 500 sq ft condo. Great for a 22 and 24 y.o couple, not good for growing family. So we knew we’d be moving soon enough when we had kids and we got an ARM.

Second hubby graduating = way more money. His income went went up about 4-5x more. Okay another reason an arm worked, because we were going to vastly different income levels.

Third, location, we now have an ARM because of the two previous reason and our third. We don’t like it where we live and will be moving eventually. So we got a long arm 7/1 last year, and will move eventually back closer to our family (we live 3k miles away).

So ARMs work for us because it makes logical sense to lock a rate for a time period where we know we’ll be staying. Our current place is nice but also not really appropriate to having a family. But good for starter place.

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