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This is a difficult question to answer in a paragraph. Assuming that you are talking about an interest only loan. The benefit is that it gives you much more control of your monthly housing expense. An ARM will change periodically depending on the type of loan however LIBOR loans are based on an index that is very slow to change. If you would like to email me I can offer a more accurate pro/con description for you.

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20y ago

What else can I help you with?