The Best VA Loan Lender
If you’re in the market for a VA loan, and if you have your VA entitlement and are ready to buy or refinance then it’s time to pick up the phone and call a few lenders. And unless you know a bevy of VA loan lenders how do you know who to contact?
VA loans are a bit different compared to FHA, USDA and conventional loans. VA loan lenders have their own language and use terms such as Funding Fee and Residual Income when evaluating a VA loan request. This means you need to find a lender experienced in VA loans and can help you walk through the process from the initial application to the finish line.
What are some of the characteristics of an excellent VA lender?
Dedication. Mortgage companies will typically offer conventional loans underwritten to Fannie Mae and Freddie Mac guidelines but they can also offer “me too” loans such as VA, FHA and USDA programs. While mortgage companies like to offer as many loan choices as possible if the lender doesn’t’ have a department dedicated to VA loans then you need to find one that does.
Longevity. You want to work with a mortgage company that’s been around for a while. With all the turmoil in the housing industry over the previous few years only the strong have survived. New mortgage companies can come and go but if you find a VA loan lender that has been in the business for 10+ years you know you’ve got a good one.
Respect. Perhaps most important in the VA loan transaction is the respect afforded you, the veteran. You’ve earned your entitlement and it’s time to use it. A top-notch VA lender appreciates your service and treats you like royalty.
It’s not easy to become a VA loan lender. The financial and ethical hoops a mortgage company must jump through are many in order to be an approved VA loan lender. But if you concentrate on a company that is dedicated, is experienced and respects you as a valued customer then you’ve found your VA lender.
