ARM vs FIXED

now i know everyone will post about fixed loans are the best...yadda yadda

I just want to see using the poll who has a fixed or ARM
or considering either one

I am sure a lot of people will post how bad an ARM is. I just want to see what others are doing

TIA

ARMs arent bad. they are just mis-used!

say you buy a condo. and you know in 5 years you are definitely going to move into somehting bigger - I would get a 5 or 7 year arm, since the interest rate doesnt adjust for 5 or 7 years (depending on what you pick), so if you are moving before that time (granted there are no prepayment penalties) then its like you had a fixed rate the whole time!

if you plan on staying in your house for a while though, its not a good idea.

HTH