is a VA hybrid home loan a good deal?

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i know its an ARM loan, but it was explained to me that its based on the amount i owe as compered to borrowed. what this means if that if rates increse, the payment is based on my balance, not the original amount. the inial payment is calculated at financing, after 36 months its calculated at the balace after 36 months and every 12 monthe there after. not your traditional ARM mortgage thats has everyone losing their homes

  1. Reply
    April 29, 2011 at 11:20 pm

    It is still an adjustable loan. Fannie Mae considers this a higher risk, and the overall rate will be higher. Fannie Mae has tightened up loan requirements.

  2. Reply
    April 29, 2011 at 11:55 pm

    If you feel good about it, then you sign for it. But frankly, I don’t why anyone would even entertain an adjustable rate when you can get good conventional and FHA rates.

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