I should also note, with mortgage rates what they are now, it's silly to get an ARM because it can go nowhere but up. Unless the LIBOR was 0, mine is currently as low as it can possibly go. When the rate was 8.75% (when I bought it), it was a good risk. I'm trying to pay down a lot of extra principle while rates are this low because then if they do go back up again, I won't be paying interest on as much principle.
Threaded Mode
