is a VA hybrid home loan a good deal?

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

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