ARM VS Fixed In Times Of Low Interest Rates
Normally I would get an ARM when buying investment property with the intention of refinancing every few years to pull out my equity and put it towards another investment. However, in times of extremely low interest rates, such as those that we are experiencing now, does it make sense to get a 30 year mortgage and pull out the equity in the form of a HELOC?
Yes it makes sense. However as an Owner Occupant you can get an ARM @ 1.95% for 40 years. This gives you a payment of $330 per $100K financed. If you are trying to qualify for more loans you will look much better.