It Pays Whether you're financing a new home, or refinancing, you'll have plenty of choices. In addition to banks, you may be able to borrow from the seller, a relative, an insurance company, or through a mortgage broker. Create a chart to compare your loan options. The best loan for a short term owner is not necessarily best for a long term owner.
ARMs are unpredictable.
It'll be tied to the then current rates, so it may not be as low as the fixed rate you could take out now. But, you'll be protected from yet higher interest. You get a fixed rate loan, typically for the first 7 years. Then it becomes an ARM for the remaining term. If you sell in less than 7 years, higher interest rates won't effect you, nor will you benefit if rates drop.