Choosing between two mortgages.Hello,I hope you can give me some guidance on my mortgage question and I thank you for taking the time to read this.I am buying a non-warrantable high-rise condo for $350,000. I have two choices in financing I am considering and I cant figure out the best path to take.Loan 190% LTV 2 year ARM starts at 4.25%. Caps are 1/1/6. Margin is 4% on the 1 year Constant Maturity Treasury Yield.Loan 280/10/10 5 year ARM Primary starts at 4%, second is fixed at 6.5% for 15 years. The cap structure is 2/2/5 and the margin is 2.25. Index is the 1 year LIBOR.The closing costs on Loan 2 are $800 higher and in the first 2 years it will cost me $2200 more than Loan 1 due to higher payment, but after 3.6 years Loan 2 is cheaper if rates go up and the loans adjust to the max each year. If rates stay stable for years to come than Loan 1 works out better.Which do you think is the smartest way for me to go?Thanks for your help.November 19 2013 - US0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.