And The Winner In The Mortgage Category Is……..
The 10 Year Interest Only ARM. Yep it is my favorite product. It offers more flexibility. You can amortize it or just pay the interest. A large principle payment is going to immediately reduce your required payment. You can qualify for more home with the same income. It is a winner despite what the press says. Larry Cragun
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I agree. It’s the product that makes Option ARM’s look bad.