VA Reduces Mortgage Options

According to an article on, the VA is going to stop the practice of adjustable rate mortgages by September 30th, 2008. If you are currently contemplating buying a home, or refinancing, via an adjustable rate mortgage (ARM) with the help of the VA, you will be okay, as long as it closes in a timely manner.

However – after September 30th, you’re out of luck. Reason for this? The high number of people getting in trouble with adjustable rate mortages. And while this is a valid reason, it will also mean higher interest rates (therefore higher payments) and less house.

What are your thought/concerns/questions on this topic?


About Sabine
Mom, Sister, Friend, Traveller, World Citizen, Realtor, Optimist

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