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| Here are the best choices on a 15 year land loan. 5 year variable at 4 1/4 which follows the fed fund rate up and down, 10 year fixed at 5 1/4, or a 15 year fixed at 5 3/4. The 5 and 10 year will reset at the end of that period. If interest rates drop, there is not a penalty to refinance at the lower rate. A good argument can be made for any of the 3 options, or do 1/2 of the loan in one option and the other 1/2 in a different option. Any idea on this is appreciated as the future direction of rates is hard to get a handle on. | |
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interest rate crystal ball
