subject: Why Every Member Of The Military Should Research Va Hybrid Loans [print this page] Military personnel or veterans who are seeking to purchase a house anytime in the near future should see about getting a VA hybrid loan, because there are simply too many great benefits to pass up. This type of loan is made available to you by the Department of Veteran Affairs, and it is not like anything else you will find.
There is a very good reason why this loan is known as a 'hybrid' loan, and it has to do with the fact that you start out with a fixed percentage rate and then move to an adjustable one after the introductory period is over. A mortgage such as this is made available in two different arrangements: one that comes with a three year introductory period and another that has an introductory period of 5 years.
The most satisfying thing about these loans is the fact that you get all of those years of peace of mind prior to having to fret about a rate change. With all that time before the adjustable rate kicks in, you will have enough time to prepare, so you can be certain about buying the kind of home you know you will appreciate. During the period of low interest rates, you can always choose to pay down the interest and start working on the principle much sooner than usual.
You may find yourself getting a bit nervous once your adjustable rate is getting close, but to be honest, the adjustable portion of a VA hybrid loan is nothing to worry about. With the special regulations that have been put in place for your benefit, the rates can only adjust so much at once, so there is no way you can ever bet caught off guard by an adjustment.
The loan is set up so that the rate will only adjust by one percent at a time and only one time a year, so following a set number of adjustments, you will never have to worry about it adjusting again. It should go without saying that having this kind of foresight into how your loan will play out should make it incredibly easy for you to handle over the years.
No other loan out there can provide you low rates and help you keep low rates like a VA hybrid loan can, which makes it one of the best available anywhere. If you are seeking to purchase a home any time soon, this is the way you must do it.
