if i were u, i'd not do ARM, but go with fix rate

the RE market is heading down. if the prediction that we are entering a long recession cycle is true, then pls go back history and take a look at those high interest rates back in 1980s. when you try to refin after 5 yrs from now, you may not be able to find a good deal at all. -- this is just my 2 cents FYI.

also, what are the specific terms of your ARM? any cap?