VA Home Loan company suggestions??????

[brewcoltiii]

What companies do you guys suggest to get a VA Home Loan through? I've got a good line on a place, but don't know ANYTHING about the VA Home Loan process.

Any help would be greatful. If you don't want to reply to the thread, here's my address brewcoltiii@yahoo.com

Thanks!:flag:

[Fragout 05 TJ]

Get with the VA or through personnel to get a "VA home loan Cert"(step one) this cert verifies your entitled to a VA Loan guarantee. Then find the house(checked off) you want. Then a Mortgage company, most Realtor companies have one in their office or can refer you. I would personally try to avoid Chase, and PNC mortgage. Wells Fargo is OK, and I heard BofA is good, But I heard a lot of good about USAA for home loans. Don't get a Adjustable rate mortgage(ARM), or a interest rate buy down mortgage(example: Purchase rate at 6.75% and buy down the rate you pay 3.75% -3% of Interest rate for yr 1 of loan then 4.75% -2% for yr 2, and 5.75% -1% for yr 3 then yr 4 you pay the full 6.75% so every year you monthly payment goes up some.) We did this on our home and had to refinance it at yr 4 b/c our payment went form 985ish up to 1280 in 4 yrs. just for 3% savings that lost over time. that is best if you plan to keep it for 3-5yrs but now interest rates on 30yr note are to bad DEC 2011 is was as low as 3.94%.

Good luck with the purchase and let us know how everything turns out.

[Doppler]

Wells Fargo sucks when you have a natural disaster hit your house. I had to threaten to sue them three times to get my insurance money released to pay contractors for repairs. On the other hand I've had good luck with Chase so far. The main thing is try to find a mortgage company that can service your loan through a local branch in your area, having to do everything through the mail can be a nightmare. Do your research on the VA website. It can be a very simple process if you have all your ducks in a row. I'm bought three homes on VA, and still own two of them.

[brewcoltiii]

thanks guys. I looked at a pdf that military.com put together about va home loans. got a contact at a mortgage company that specializes in va home loans also. I will be talking to him later. I'll let you know how it goes from there.

[19delta]

i am in that process right now myself, i went ot a credit union and askerd them straight out, "do you guy's do VA home loans?" in doing so i got locked in at 3.4% interest, never to rise or ballon for 30 years. you will have some paperwork to fill out, about 40 pages worth, but not as bad as enlisting! should be closing on my house at the end of the month.

almost forgot, there is no fine print to the va stuff, it's staight forward

[HillBillE]

Some places don't like doing VA guaranteed loans, don't let them talk you out of it.

Plus, big places, like Wells Fargo and B of A, will sell your loan to whoever, sometimes multiple times it will get sold.

Our mortgage started at one place, went to another, and now B of A has it.


If you go though USAA, or many local credit unions, they don't sell your mortgage, they keep it in house.

[Doppler]

Just rememeber that althought military.com is a good source of info they are not military affiliated. If that company is a mortgage broker they will charge you additional fees and will sell your loan. The best way is to go to a local lender but one that may be a nation wide company. You'll get the best rate that way an they will help you complete all the needed paperwork.

[brewcoltiii]

Just rememeber that althought military.com is a good source of info they are not military affiliated. If that company is a mortgage broker they will charge you additional fees and will sell your loan. The best way is to go to a local lender but one that may be a nation wide company. You'll get the best rate that way an they will help you complete all the needed paperwork.

Yeah, I totally understand that. I am NOT going to get taken with a home loan, done did that with the ex-beotch! I was meaning that they had a va home loan guide, basically something to go off of for research and what documents that could be needed during the purchasing process.

[brewcoltiii]

I just got a credit union for the jeep purchase. So I have an in with them. I am going to talk to them some time next week about VA home loans.

[Ricky Booby]

I used USAA for my VA loan. They were very helpful and walked me through the process without issues.

[Ross]

Check with USAA. I wouldn't limit my checking to USAA. USAA will help you figure out what is the best loan for you. A VA loan may or may not be your best option. USAA employees don't work on commission so they don't have any incentive to steer you in the wrong direction. I used a Cal Vet loan once and it was a great deal. With my current home I got a better deal going a different route. I checked into getting a VA loan I found there were better options.

[brewcoltiii]

The last home I purchased, with the ex (uggg), we got a better rate not going the VA home loan route. I did check before, but now things are different with my situation and wanted some opinions from the forum.