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24HourForums.com > Supported Forums > 24's Money Business > What is a 5/1, 7/1 ARM mortgage?

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MrPaseo
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 Posted: 06:58 pm

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Many of you know I am looking for a refinance to lower my mortgage payments.  I'm looking at ING Direct and they are showing 5/1 ARM at 5.88% Rate, 6.53% APR with a closing cost of $695 (Plus a few small other fees).

Any insite on this?

Thanks,
Ray

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MrPaseo
Original500© Member

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 Posted: 09:45 pm

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24HourForums.com > Supported Forums > 24's Money Business > What is a 5/1, 7/1 ARM mortgage?


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