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Can EstiCost™ be used with adjustable-rate mortgages (ARMs)?

April 26, 2017adjustable-rate arms esticost™ mortgages Used

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Can EstiCost™ be used with adjustable-rate mortgages (ARMs)?

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Yes, but. The program’s true-cost calculation — and the rent-vs.-buy decision, we’ll wager — is based on the initial mortgage interest rate, so just use that as input. But make it clear that you’re basing the estimate on that initial rate, and that later costs could be different.