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Rental Property Loans: Fixed Rate or Adjustable Rate Mortgage?
Been crunching numbers lately on financing a rental property and I'm kinda stuck between fixed-rate and adjustable-rate mortgages. Fixed seems safer, you know, predictable payments and all that. But adjustable rates are tempting with their lower initial rates - could save some cash upfront. But then again, rates could jump later and bite me in the wallet. Curious what others here prefer and why...anyone have experiences (good or bad) with either option?
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