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well, as I mentioned above, I recently had twins and the wife is only working part time and the cost of day care for two girls is taking a nice bite out of our income. I thought about selling our home but could not even come close to what we have now. The balance of the loan is roughly 180k, the house would apraise for right around 300k. We have a 5.78% fixed rate for 30yrs now, basically I am looking for something to buy some time until we can get rid of some things..... What is the difference between those 3/1, 5/1 and 7/1 ARM and Jumbos. There are also interest only loans as well.
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