Lender Statistics . THis post alone makes reddit worth it to me.) What would you think? That being said, credit unions, or smaller banks looking to earn your business are likely better sources for good rates (in my experience for various types of lending) compared to the big name banks (BoA, Chase, Wells Fargo, etc.). VA loans can offer savings and a fast track to homeownership for borrowers with military service. Compare and select a lender - Contact several lenders to determine the best loan you can afford and be pre-approved. Get pre-approved. I just got 2.75% on a 30yr, closed a month ago. Ditech … 6. Ditech Home Loans. Offer acceptance to close was 33 days. Oh well, their loss. Choice of products? Was that a quick process for you using a local lender? I'm currently looking at buying my first home soon. Massive competition, due to general shortages, REITs/other management firms buying the shit out of properties to rent out, etc. How do they factor my student loans that are deferred until 2021 per the lender into my loan? You can get a loan even if your credit score is less than 620, but … Posted by 9 months ago. bank. From what I understand, the VA loan program is meant to stimulate home ownership for veterans. If you are visiting r/veterans for the first time please read the rules. That being said, credit unions, or smaller banks looking to earn your business are likely better sources for … No down payment whatsoever is required from the veteran as long as the loan does not exceed maximum VA lender guidelines. Best VA-approved lender for VA home loan? … Also, do you think VU would match the rate I got from PenFed? Manager even pulled a late nite to make sure we closed on time. Suppose someone told you Wells Fargo was one of the most highly regarded mortgage lenders, based on consumer surveys. This is a subreddit for news, sites, information and events that may interest veterans. I guess I was thinking among the National franchises, the well known lenders. If you’re looking in the Raleigh/triangle area or Mecklenburg County/Kannapolis/Charlotte area... Hyper fuckery. Veterans United is by far and away the most popular (read: biggest lender) for VA home loans. There’s no need to find one that “specializes” in them, those companies just happen to advertise to military members. I had the seller cover all the closing cost, about $10,000. Veterans United did mention to me my rate was 2.5% current but that could change by the time I go into contract on a house. Photo Courtesy of Veterans United Home Loans … I'm currently shopping but can't seem to find a list of "VA-approved" lenders anywhere. If you can afford to pay the closing costs up front I would suggest doing that rather than paying interest on them if you were to put them in the loan! And of … Most recently, we used a mortgage broker in house to our realtor to shop rates and mortgages. Lenders. Get your true budget and find a home with ease. While the VA technically allows it, most lenders don't offer VA loans for purchasing land and construction. Looks like you're using new Reddit on an old browser. Archived. *Although the VA doesn’t require a minimum score, many VA-approved lenders set it at 620. There are some peculiarities and some blatant, outright fuckery in some. I’m trying to convince her to say screw it, and move to what is, for now, an outlying county. We were not preapproved before viewing the house and did the majority of the work that Saturday afternoon before heading back home. I've heard many bad things from friends who have used USAA and Navy Federal saying they don't communicate well/ rates not the best/ long close timeframe/ etc. Did you use a realtor that they recommended and how were your closing costs done - rolled into the loan? It is an improvement on the FHA loan in that there is no downpayment nor mortgage insurance … Wife and I became friends with our first realtor in the Cherry Point area. Lowest rates? I used the local bank that I already had a checking account with. I currently bank with USAA And am not overly ecstatic with them. I got a VA home loan earlier this year. Then, it was his problem to scan and submit all documentation. This may vary state by state. As he was in house with our realtors brokerage, he also stayed on top of inspections, appraisals, everything. OK this is a silly question, and I’m not sure ill get much … Hey OP I close on my VA loan on the 27th. Best … Perhaps a bit of a sidebar, but which market in NC are you looking to buy in? Just closed with PenFed and planning to abandon USAA completely for them. I'm pre-approved through USAA already but I heard that's an atrocious lender that closes very slowly. Housing. I just closed yesterday using Veterans United. I'd like your opinions on who might be better? Lenders are persons or entities (private sector or government) that originate, hold, service, fund, buys, sells or otherwise transfers a loan guaranteed by the Department of Veterans Affairs.The links below are provided as resources for VA … We're looking to get a 30yr fixed-rate mortgage on our house and so I went and got pre-approved at VU and PenFed, Veterans United - Pre-approval for 600k @ 2.5%, I was initially leaning towards veterans united due to their marketing and how they help with the whole process, but I'd like others opinion on who they went with. We are in the middle of a fucking mess and are about to have nowhere to go because of their incompetence. Edit: I should also add that I'm asking veteran's opinions on the lenders they've had as well. Anyone had any experience building from ground up with a USDA loan… VU customers are big fans, giving it 891/1,000 in the J.D. Join our community, read the PF Wiki, and get on top of your finances! I signed all the paper work with the loan officer at my bank, but the loan is actually serviced by (and I send my payments to) Flagstar bank. Tip 1: Start Without a COE. As others have said the realtor isnt worth much more then opening the door for you. About Home Loans. Stay away from Veterans United!! They gave me a fantastic rate. I'm shopping around for a VA-approved lender and I would like to know what everyone else's experiences have been that have a VA home loan. We’ve seen the market there go upside down, slowly start to turnaround, and then start to blast off after multiple hurricanes schwacked the area. Are closing costs usually about 3-5% of the purchase price of the home or is it cheaper than that? share. We’ve done the purchase dance a few times over the years, including our house in the back room deal-heavy PR real estate market, but this place is fucking nuts. After spending over 400 hours reviewing the top lenders, NerdWallet has … Before you buy a home or refinance your mortgage, shop around to find the best mortgage lenders of 2020. how long was your offer to close with PenFed? (Not to generalize entirely because I have worked with some realtors that crunch numbers for you and go above and beyond finding properties.) It was a huge … I could care less about customer service as long as they do their job quickly. A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of … Veteran Crisis Hotline Dial 1-800-273-8255 Press 1, Press J to jump to the feed. What advice would you give to look out for? 7. But I did also get pretty far with veterans United and I just got so tired of them telling me different numbers every time we talked, vs. what they sent me when we got off the phone. These 10 lenders — experts at VA loans — are among the best for a VA streamline refinance, or IRRRL, in 2021. save. VA Loan. I had no stress and no running around with them. The Consumer Financial Protection Bureau's Owning a Home guide has tools and resources to help you shop lenders, explore different loan types, and compare loan … As part of our mission to serve you, we provide a home loan … Unlike many other VA home loan lenders, Veterans United® is one of the best VA home loan lenders due to their industry-leading experts. VA loan calculator; Best VA mortgage lenders; Check out our other mortgage and refinance tools. VA loan has a % loan fee (kinda of like a minimum down payment but they roll it into the financing) so it came out to 315,800. That said, 2.25/30 year is the lowest I’ve personally seen without buying points. Are closing costs the same with both lenders? Most loans are limited by VA lenders at $417,000, higher in … Press question mark to learn the rest of the keyboard shortcuts, http://www.thesimpledollar.com/best-mortgage-lenders/. Power survey. It's common for lenders to get this document for you a little later down the road. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Credit score requirement: Allowance for less-than-perfect credit. We are here to support one another, and help resolve any VA / Veterans related issues. Loved them, always there every step. These types of loans are generally riskier and, if you do find a lender … This loan requires that you qualify for VA benefits, which disqualifies many. So, typically the lenders I broker through here in CA tell me the loan … Interesting. We just sold our Cherry Point house, and spent the last two years renting in the Raleigh area while my wife figured out where she wanted to buy. Lenders are persons or entities (private sector or government) that originate, hold, service, fund, buys, sells or otherwise transfers a loan guaranteed by the Department of Veterans Affairs.The links below are provided as resources for VA … USDA Loans. I wanted to shop around and get a good rate but also wanted to work with a reliable lender for the VA loan. A VA loan, from a lender perspective, isn't wildly complicated so most should work. (Which is actually the case.) Get pre-approved. Here's someone who recently surveyed these: http://www.thesimpledollar.com/best-mortgage-lenders/. VA Loans for Land and Construction Aren't Common. We got declined for an Auto loan with NFCU, We got approved by every other lender imaginable. The Credit Alert Interactive Verification Reporting System is a database lenders use to check for any defaults on federally assisted loans.The information is collected based on overpayments for education benefits, disability benefits or VA … Veterans United Home Loans (VU) is the country's top VA loan originator, surpassing even industry giant Quicken Loans. VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. VA loans and your CAIVRS history. We ban and do not look back. not sure how that process works, or do I roll that into the VA Loan? A VA loan, from a lender perspective, isn't wildly complicated so most should work. Massively cheaper, properties don’t move as fast, etc. We’re looking to buy in the Raleigh/Durham/triangle area. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. I used Navy Federal for my first (later refinanced via VA IRRL through a variety of random lenders via a mortgage broker) and just used a local lender (that I found through a local professional veterans networking group) who has sold the loan to Huntington after closing. For me, good rates and fast closing are important. And also, I saw someone mentioned all lenders are familiar with VA loan...I don’t believe that’s true! Compare our picks for best VA mortgage lenders of 2020. I originally tried to join Navy Federal with the idea of then getting my VA loan there, but I never heard anything back from them after submitting an online application. Absolutely any lender will be familiar with VA loans. The lender we are going with (using conventional) didn’t know enough about VA loan to the point we were teaching her things. FHA loans are available for borrowers with credit scores as low as 500, though you’ll need at least a … You are asking us to guess at both what lenders are available to you in your area, and what you consider to be desirable in mortgage lender. Hi, we're moving to NC and looking to buy our first house. 20 comments. This guide covers the fundamentals of VA loans and offers recommendations for the top VA lenders so you can find the best VA loan. You don't need to have your VA Certificate of Eligibility to start the VA loan process. Press question mark to learn the rest of the keyboard shortcuts. I had zero problems with USAA for my first house. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. For whatever reason, closing cost are a bit lower when using a VA loan… Wow, I had no idea! NFCU is very picky and stringent when it comes to home loans. Great service? If I was going that route I wouldn’t have went with them. VA lenders mostly prefer a minimum of 620 FICO score, but the cutoff varies by the lender, the loan type, and other factors. I assume most banks will offer a VA loan which will then be serviced by a different, larger (?) To qualify for a such a loan, you have to meet some minimum requirements. VA loans don't require a down payment or mortgage insurance. I'm in Ohio, Dayton area so I'm not even sure what's around here yet. Utterly worth the extra $500 in fees as we were buying the house remotely before we PCSed to the area. Borrowers looking for excellent customer service will be happy … Lenders Page. 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