Originally Posted by pnthr30
How long are you planning on being in it? What about an ARM? Or a 7 year balloon?
If you really want to work on your principal, what about a 15 year fixed? Payments will obviously higher, but not all that much 15 year fixed rates are pretty low right now.
I don't know how long I'll have it. I'll odviously have it for 2 years so I don't have to pay penalties. I'd like to say I'll keep it for a long time, but who know. I'm going to be putting down $10-15k for a downpaymen, and I'm looking at condos in the $80-115K range. with a 30year fixed I'd be looking at $400-1000/month including insurance.