va adjustable rate loan: Do I have to take a fixed-rate VA loan in today's market?
- 10/05/08 02:00 AM
In today's market there is generally nothing to gain by obtaining a Adjustable Rate VA Loan. In fact we have a NO ARM policy that unless specifically asked for we will never recommend that any borrower, Veteran or not, obtain an Adjustable Rate Mortgage. Here's how an ARM works: The adjustable rate loan, where interest may be adjusted one percent annually, up to five percent over the duration of the loan period. With rates only a percent or two off of the lowest rates we've seen in a generation the odds of your rate going down is small and even then … (0 comments)
In today's market there is generally nothing to gain by obtaining a Adjustable Rate VA Loan. In fact we have a NO ARM policy that unless specifically asked for we will never recommend that any borrower, Veteran or not, obtain an Adjustable Rate Mortgage. Here's how an ARM works: The adjustable rate loan, where interest may be adjusted one percent annually, up to five percent over the duration of the loan period. With rates only a percent or two off of the lowest rates we've seen in a generation the odds of your rate going down is small and even then … (0 comments)
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