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n. Illinois | It's a choice,
If your personal cash flow is that the debt is liquidated in 10 years then locking in for 5 years might make sense as any interest change after the 5 years could easily be managed with adjustments (which most lenders would agree too) such a making the amortization longer than originally agreed too.
If its actually going to take the full amortization to repay why take on the interest rate risk?
Have a deal with no prepayment penalty. If your right and interest rates drop dramatically refi. If not your protected from those higher interest rates.
There is rarely a single answer that fits everyone's situation. | |
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Land purchase interest rates
