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I work with people who want fixed rates and adjustable rate mortgages, and
sometimes when they come to me and ask for a thirty year fixed rate mortgage
I tell them up front,
that if you're not going to be in the home, or how long are they going to in the home...
Most people
will change mortgages or change homes in a ten-year period of time.
Therefore I can offer them a ten-one ARM
or a seven-one ARM
and greatly decrease their interest rate.
And it gives them something to think about, because for the most part, even
people that have thirty-year fixed rate mortgages
they usually move that mortgage, or move out of the house within ten years.