1.35M house with a 300K down payment .. worth buying?
TC: 350K

Also, is 10/1 ARM mortgage better than 30 yr fixed? Factors to think while deciding ?

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Hold period of the property is a big one. I just got a 10/1 ARM with a rate ~1.5% better than a 30 year fixed, but I felt comfortable with it because I’m confident I’ll be out of the house in 5-7 years.

You should also consider the max interest rate (worst case scenario). It should have a cap. Mine can increase 2% from years 10-11 and then 1% each year thereafter up to a max of 5% over the initial rate. It’d be a bummer to have to pay that, but with the money I’m saving in interest and investing over 10 years, I’ll likely be able to wipe out most of the principle and refinance if I really want to.

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I am thinking of ARM as well, which bank did u get yours?

You are fine. I just bought 1.2M with 250k down pay, 400k TC

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