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torifile
Less than Stellar Member
 
Join Date: May 2004
Location: Durham, NC
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2007-03-14, 23:53

The best thing I can offer is that if you plan to move within 5 years, get an ARM. They're cheaper during those 5 years because the rate's lower.

Don't pay points unless you know you're going to make the money back over the course of your mortgage (e.g., you know you'll be in the house long enough to offset the initial cost).

Think about paying more on your house than your mortgage per month but also think about using that extra money to invest in other things. If your house appreciates in value, it's a good investment but if you're not sure it will, going a more traditional route like a CD with the money might be a better investment.

If it's not red and showing substantial musculature, you're wearing it wrong.
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