Which loan should I choose?

[Devin Cross]

Hello there I have a few questions and thought I'd ask around before committing to any specific loan. I am getting ready (3-6months) to make my first home purchase. I am tired of renting houses mainly because I am not getting any financially better while I do so. I've decided that I want to purchase a house live in it for a couple years (up to 3) and rent it out while I buy another. I have been looking in the area I want to purchase in and have found some suitable houses. Now I'm trying to decide what loan to pick. 

I dont want to make much of a downpayment whatsoever and I'd like to keep my rate low. I am a reservist in the Marine Corps and am halfway through my 6 years so I will be able to use my va loan at the end of my term. In the meantime while I dont have it though I fired my best bet would be an adjustable rate mortgage, because by the time it does adjust (3years most likely) I can refinance it into a va loan. I also looked at an FHA loan because they have low rates but I'm not sure it would would matter because the extra insurance would make the payment as high as a higher rate.

Some info you might need:

The house will be in Spring Valley Lake, CA

My Credit Score is 702, 698, and 695

My debt/income is approximately 22.5%

I am a first time home buyer and I am Military

I have received a few rate quotes from my bank (Navy Federal) for a 3/5 arm at 4.75% and an FHA loan at 4%.

The house will cost about 200,000 at least that is as much as I'd like to spend.