Cohousing-L Mailing List: Mortgage loans

[Deborah Behrens (debbeh]

I am still a beginner at loans and hope to get some advice from wiser,
more experienced homeowners.  Am wondering what peoples' experiences 
have been regarding different types of mortgage loans.  I've been offered
a choice of 30 year fixed and a 6moCOFI as my current best alternatives.

                                        currently @ %

There's the 30 year fixed,              (9%)

There are also a variety of ARMs:

  6 month COFI ARM                      (5.9% with max of 11.95%)

  3/1 Treasury                          ?

I know ARMs can be gotchas, but might they be worth the risk if one can
use the lower early costs to buy down the mortgage more quickly?
Thanx for your advice.

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 |  Debbie Behrens             debbeh [at] auto-trol.com  W (303)252-2215 |
 |  Highline Crossing CoHousing                      H (303)457-4184 |
 |  Rocky Mountain Cohousing Assn                    Fx(303)252-2249 |
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 |      All opinions expressed are mine, and do not necessarily      |
 |   reflect the opinions of Highline Crossing or RMCA in general.   |
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