Taking the plunge with adjustable rate mortgages—worth it?
That story about the $400 jump is exactly what freaks me out about ARMs. I keep looking at those lower intro rates and thinking, “Yeah, but what if my ‘plan’ goes sideways?” I’m not exactly a gambler when it comes to my monthly budget, especially with everything else in life being so unpredictable.
I get why people do it if they’re super sure about moving or refinancing, but honestly, I barely know what I’m having for dinner next week, let alone where I’ll be living in five years. The idea of my payment suddenly ballooning just sounds like stress I don’t need. Maybe I’m just boring, but I’d rather pay a little more for that peace of mind and not have to worry about surprise math every year.
Guess it comes down to how much risk you can stomach... and how lucky you feel. For me, fixed rate just feels safer—even if it’s not the “exciting” option.