FAQ - VA Hybrid Loans
We field many questions about VA Hybrid Loans. They've been out for awhile, but some veterans are only finding out about them now. These loans tend to be a little misunderstood as well.
Are VA Hybrid Loans safe?
We get this question a lot especially after the bursting of the real estate bubble. Because VA Hybrid Loans have some features of ARM loans, veterans worry that they're not safe. However, they are safe. They are safe because they are partially guaranteed by the U.S. government.
The VA Hybrid Loans are safe, but what about the lenders?
Of course, there can be predatory lenders in any industry. But these types of lenders are pretty well filtered out of the VA Hybrid Loan program because every private lender that provides VA Hybrid Loans must meet the strict standards of Veteran Affairs and be VA-approved.
What if after a few years, I want out of my loan, can I get out?
Yes. Streamlining out of a VA Hybrid Loan is simpler than a conventional refinance. These streamline loans are known as Interest Rate Reduction Refinance Loans (IRRRL). If this time comes for you, please check with one of our VA-approved lenders to check your options.
Where do I find a VA-approved lender?
Starting here is a good place. You'll find testimonials from clients who have worked with us and found the process to be professional and as easy as can be. We have provided many loans to veterans just like yourself and can field any questions you may have.
What does the government guarantee do for me?
First off, it means the loans are safe. Second, it means that lenders can give you better rates than conventional loans.