I have a 7yr IO ARM @ 4.5%. Considering going to a 3.875% 10yr IO ARM for $417K. Should we?I have a 7yr IO ARM @ 4.5%. Considering going to a 3.875% 10yr IO ARM for $417K in CA. It will cost 1pt and fees around $2500. So I figure $7K total costs. From current payment it will take 28 months to recoup costs. Does this make sense to do? I am thinking yes since it gets me the extra 3 years locked in at the lower rate. Opinions please.July 21 2010 - Livermore00YesReport 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.