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rconti
8y ago
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Mortgages are typically longer than 5 years.
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tostitos1979
8y ago
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Exactly. In a US 30 year mortgage, it is reasonable to expect a borrower to pay it off. In a 5 year mortgage, you will typically refinance after 5 years (unless you hit the jackpot in the interim).
sliverstorm
8y ago
That sounds obnoxious, being forced to refinance 5 times. Why not a 30 year 5/5 ARM? (Rate adjusts every 5 years to market rate)
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