Mortgage advice: 30yr fixed or 7/1

Other

Hello, looking for advice on which mortgage product to purchase. I’m just about to finish my fellowship training and join a physician group in a medium sized city (pre partner bring home around 350, maybe 425 after 3 years). My wife and I purchased our home for around 800k. We have two options for physician loans: a 30-yr 4.625 loan with zero down or a 7/1-arm 3.5% with zero down. With the current market, we are considering the 7/1- is this crazy? We will likely refinance, if rates lower, and or sell our home within the next 7 years (definitely within the next 10).

Posted May 22, 2022, 4:32 PM UTC

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