The market’s unpredictable, and waiting for the stars to align can mean missing out entirely.
That line about peace of mind not fitting in a spreadsheet really hits home. I’ve seen folks get so caught up in chasing the “perfect” rate that they end up paralyzed, missing out on homes they actually liked. Sometimes, the numbers just can’t account for how you’ll feel lying awake at night worrying about a payment that’s a stretch. Out of curiosity, did you ever consider an adjustable-rate mortgage, or was the unpredictability just too much? I’ve had clients who swear by them, but personally, I’m a bit wary unless there’s a solid backup plan.
I totally get where you’re coming from about the peace of mind thing. I actually did look into adjustable-rate mortgages for a hot minute—those intro rates are tempting, not gonna lie. But honestly, the idea of my payment suddenly jumping in a few years made me way too anxious. I’m all for saving money, but I’d rather skip the rollercoaster and sleep at night, even if it means paying a bit more upfront. Maybe I’m just too risk-averse, but spreadsheets can’t measure stress...
I hear you on the stress factor—nobody wants to wake up one day and find their mortgage payment’s doubled. That said, I’ve seen folks do pretty well with ARMs, especially if they know they’ll move or refinance before the rate adjusts. It’s a bit of a gamble, but sometimes it pays off. Personally, I’ve done both fixed and adjustable over the years, and I’ll admit, the fixed rate is like comfort food—predictable, maybe a little boring, but you know what you’re getting.
Funny thing is, I once took an ARM on a flip thinking I’d be out in 18 months. Ended up holding the place for three years because the market slowed down... let’s just say my “great deal” got a little less great when the rate reset. Lesson learned: if you’re not a fan of surprises, fixed is probably the way to go. Peace of mind’s worth a lot, even if it doesn’t show up on a spreadsheet.
Had a similar situation with an ARM on a rental—looked great on paper, but when the rate jumped, my cash flow took a hit. Fixed rates might not be flashy, but I sleep better knowing exactly what’s coming every month. Sometimes boring wins.
Fixed rates might not be flashy, but I sleep better knowing exactly what’s coming every month. Sometimes boring wins.
I get where you're coming from—predictability really does have its perks. But sometimes I see folks jump to fixed just because of a bad ARM experience, and they end up paying more over the life of the loan. Ever looked into hybrid ARMs? They can be a happy medium if you know you’ll sell or refi before the adjustment period hits. Curious if anyone here has actually seen a hybrid work out well, or if it’s just marketing hype...
